According to Watson, there are approximately 250 applications for new developments around London awaiting planning approval, about 135 of which are for "skyscrapers."
"By 2030 London will be the first city in Western Europe to be home to ten million people and Asian investment, together with traditional institutional finance, is helping to unlock developments that have stalled for many years, allowing thousands more homes to be built for Londoners far sooner than would otherwise be possible," said London's Deputy Mayor for Planning Edward Lister.
According to IP Global, the housing shortfall in southern England is estimated at some 160,000 houses, 72,000 of which are in London.
"Investment from companies such as SP Setia at the Battersea Power Station, Knight Dragon at the Greenwich Peninsula and Oxley Holdings at Royal Wharf are reflective of London's strong investment opportunity and good relations between the city and Asian countries," Lister said.
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Reflecting closer investment ties between London and Asia, London Mayor Boris Johnson in early December completed a trade mission to the Far East that included Singapore and Malaysia. He also unveiled that the public space at the heart of the Battersea Power Station development is to be called Malaysia Square.
Coming of age
Analysts add that the success of the Battersea project, which has seen strong interest in Asia, may help draw other Asian developers to Europe.
"It is rather significant as the project has done very well globally and has also gained good publicity worldwide," said Doris Tan, Head of International Property Services, at Jones Lang LaSalle in Singapore.
Asked why more Asian developers are looking at Europe to invest, Liew Kee Sin, chairman of the Battersea Project Holding Company, described the move in a recent BBC interview as part of "growing up."
"We have lots of investments in Malaysia, Singapore, also Australia. But it's time for us to open ourselves and see the world and see if we can compete internationally," he said in the television interview.
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There are a host of reasons why foreign developers looking at Europe would set their sights on London first such as transparency and culture, analysts say.
"London is typically the first port of call for overseas developers who want to expand into Europe and there are no signs it will lose this position of dominance," said Tom Bill, Head of London Residential Research at Knight Frank.
Watson at Middleton Advisors adds this note of caution to potential developers: "Competition is fierce. Ten years ago we didn't have apartment buildings that offered state of the art facilities or concierge services, so a developer contemplating London has to be ahead of the times and raise the bar with each new scheme."