<P> London was named the city with the best real estate investment opportunities for foreign investors in 2014 . Office development was at a four - year high in 2013 with 9.7 million sq ft across 71 schemes under construction . </P> <P> A multibillion - pound 10 - year construction programme has begun in Nine Elms on the South Bank of the river Thames in central London . This will develop the area from a semi-derelict, light industrial zone into a modern residential and business district . The programme includes regeneration of Battersea Power Station, construction of new embassies for the United States and the Netherlands, and regeneration of New Covent Garden Market which is the largest fresh produce market in the UK . Transport improvement plans include two new Northern line tube stations, riverbus piers, new bus services and a network of cycle lanes and footpaths . A new bridge across the river Thames will link Nine Elms to Pimlico on the opposite bank . Around 25,000 permanent jobs will be created once the new buildings are occupied and around 16,000 new homes . </P> <P> Other large construction projects include Kings Cross Central and Paddington Waterside . In 2014, the government identified 20 new housing zones across London, and in February 2015 the development of the first nine zones was approved, which will create 28,000 new homes by 2025 from £ 260m of investment . </P> <P> Transportation contributes to both the service and construction sectors of the London economy . </P>

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