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London Developments

London is the place to be if you work in construction; there have been massive developments in recent years, particularly within the transport and leisure industries.

The rebuilding of Wembley Stadium, England’s national football arena, has been one of the major construction projects in the capital over the past decade (see p.8). Something of a controversial affair, coming in way over schedule and budget, it has reportedly cost more than £750 million so far, and has had more bad press than the England manager. On the plus side, the scheme has included significant upgrading of transport infrastructure in north-west London.

Another sporting project set to preoccupy the country for the foreseeable future is the preparation to stage the Olympics in the capital in 2012. London beat rival bids from Paris, New York and Madrid to host the event, and in doing so created a major opportunity for local industries and communities. Deprived parts of east London, including Stratford, are set to benefit from investment in facilities, property and transport, and other areas slated to host minor Olympic events should also prosper. The games are expected to create thousands of jobs across a range of sectors; bus drivers, architects, engineers, IT specialists, electricians, bricklayers, journalists, printers, drivers, caterers, tour guides, choreographers, and even hairdressers will all be needed. Despite this, reports about the various projects being over-budget and behind schedule have already begun to circulate, so expect more of the same over the next five years.

Part of the Olympic project includes the development of a shuttle train to run from Stratford to central London, which will tie in with the Channel Tunnel Rail Link. This high-speed rail service to the British side of the tunnel will see the shifting of the Eurostar terminal from Waterloo to St Pancras in 2007, and will also include a stop at Stratford. As well as the employment and investment created by the building of the line, the King’s Cross area around St Pancras station is set to benefit from a major facelift. Other proposed transport projects include the East London line extension, which will link Highbury & Islington in the north with south-east London (the first phase is set to open in 2010), and the Crossrail connection of west and east London – although this is some years off as it is still in the planning stage. A fifth terminal at Heathrow airport is scheduled to open in 2008.

One noticeable indicator of London’s strong economy is its changing skyline; several new examples of modern high-rise architecture have sprung up...