Ballymore and Oracle's ￡1bn Docklands tower

摘要

Ballymore and oracle group are planning a 43-storey Foster & Partners-designed residential tower in London's Docklands as a part of a ￡1bn mixed-use scheme, flying in the face of the turmoil in the residential sector.A joint venture between Irish developer Ballymore, David Burke's Oracle, Gailiard Homes and investor and developer City & Docklands will submit a planning application next week fora 2.2m sq ft development on Millharbour.Darryl Flay, chief executive of Oracle, said the joint venture hopes to start phased development by the end of next year.Flay said it would use debt finance and hoped a combination of preselling elements of the scheme and an improved financial environment next year would make this possible.'In this market, finding the funding for the whole scheme will be very difficult,' he admitted.