Mayor Boris Johnson has welcomed news that ABP, the Chinese developer transforming the Royal Albert Dock into a hub for Asian businesses, is to move its HQ to the capital.

In May the firm signed a £1bn contract with City Hall to create London’s third major business district which will service Asian and Chinese businesses seeking to do business with the UK and Europe.

The development will include more than 2.5 million square feet of office space, plus retail and leisure facilities and is expected to be ready for its first tenants in 2017.

Speaking at a London-Asia business forum at City Hall today, ABP Chairman Mr Xu Weiping announced the firm is bringing its own HQ to London, a move he said would help “grow the company globally”.

Mr Xu said: “London presents many fantastic opportunities and I believe this is just the beginning of an exciting period of investment and regeneration in the area.”

“We have many leading businesses from Asia here today and I will introduce the Mayor to many more when we welcome him to Beijing later next month.”

Welcoming news of the move, Mayor Johnson said: “It’s fantastic to see ABP voting with their feet and choosing to bring their global headquarters to London.

“A fantastic place to live and work, in the right time-zone to trade between east and west, with a highly skilled workforce and a concentration of first class business expertise, London has an enormous amount to offer businesses and brands from all over the world.”

The Mayor will next month lead a delegation of London firms to China as part of City Hall’s ongoing efforts to attract new investment to the capital and help London businesses increase their sales to overseas markets.