Chinese developer Dalian Wanda has selected CI-One Construction as a preferred bidder for the £550m One Nine Elms scheme at Battersea, south London, UK.
CI-One Construction is a joint venture entity between UK construction company Interserve and China State Construction Engineering Corporation (CSCEC).
Under the scheme, the firm is expected to develop high-end residential, hotel and retail space as part of the wider Nine Elms development.
Nine Elms will house a new US Embassy, along with a new business district and centre for arts and culture. It will also involve regeneration of Battersea Power Station and offer housing accommodation to more than 30,000 people.
One Nine Elms scheme will involve the construction of two towers, one at 57-storeys and the other having 42. The buildings will offer 494 apartments and be among the tallest residential towers in the country.
CI-One Construction will also build a five-star hotel with 187 rooms at the base of the River Tower, as a part of the construction deal.
More than 50% of the construction will be dedicated to outdoor space.
Dalian Wanda is the parent company of Wanda One, which is the developer for the One Nine Elms scheme.
Interserve chief executive Adrian Ringrose said: "We look forward to working with Wanda and CSCEC and putting our expertise to use on this prestigious development, one of the largest and most exciting urban regeneration projects in Europe."
Wanda One has already started working on the scheme. Site demolition is almost complete, which will allow piling works to start.
Image: One Nine Elms scheme in Battersea, London. Photo: courtesy of Interserve plc.