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Balfour Beatty comes onboard for £1bn One Nine Elms project

Construction firm Balfour Beatty has been named as the main contractor on the massive £1bn One Nine Elms development in Vauxhall.

The development, focused on two luxury accommodation towers, has been masterminded by Dalian Wanda with a pre-contract due to be signed at the end of the year.

It comes after Dalian secured development finance for the scheme in Vauxhall last week, with an initial drawdown of £100m of debt from Ping An Bank, as part of a £500m facility.

The project will see the creation of two new skyscrapers weighing in at 42 and 58 storeys, consisting of 437 flats and a five star Wanda Vista Hotel, the first outside China.

Dean Banks, Managing Director at Balfour Beatty’s UK Construction Services business said: “We are pleased to be awarded the pre-construction services agreement for One Nine Elms and to be partnering with Wanda to get this fantastic project underway.

“This reflects the depth and breadth of experience we have in this sector and builds on the success of similar projects across London.”