Kier has been announced as the developer of a new £50m residential tower to be built at London’s Greenwich Peninsula redevelopment.

The constractor has been given the task of designing and building the 224 luxury apartments which are to be arranged in four blocks and which will also include a 24 storey residential tower.

The new development is one of the first developments to be announced on the regeneration zone of the Greenwich Peninsula which will see Hong Kong developer KnightDragon deliver over 10,000 new homes catering for some 23,000 people before 2039.

The Greenwich Peninsula development area is around 160 acres and will consist of mixed residential, commercial, business and leisure spaces all located next to the river Thames.

Of the Greenwich Peninsula, Kier chief executive Haydn Mursell said this: “will be a critical regeneration project for London, providing much needed housing, alongside leisure, retail and commercial space, to create a vibrant new district for the city”.

He added: “This particular scheme is also a testament to our high-rise development skills, which we believe will prove important in the London market as we witness a high increase in demand for high-rise schemes.”

This should be seen as a really positive move for the construction industry in bringing more jobs to the capital at a time when construction has begun to slow.