Sir Sadiq Khan has unveiled what he calls a “Singapore-style” approach to housing in London, announcing a £100m investment that will see City Hall become a direct partner in developing new homes for the first time.
Speaking during a visit to Singapore, the mayor said the capital could learn from the city-state’s housing model.
The Greater London Authority will invest £100m in the Silvertown Partnership, supporting plans for 7,000 homes in the Royal Docks in east London. Sir Sadiq says about 30% of the homes are expected to be affordable.
Conservative London Assembly chairman Andrew Boff said London was “getting quite tired” of such announcements because “they don’t really represent reality”.
The move marks a significant shift for City Hall. Until now, the mayor’s office has largely supported housing projects through funding programmes and partnerships with developers. Under the new model, it will become a development partner itself.
“This announcement today is a game changer,” Sir Sadiq said. “Neither of the two previous mayors got involved in development. I am.”
The announcement was made during a trade mission to Singapore and Japan, where the mayor has been promoting London as a destination for investment.
Singapore’s housing model is built around extensive government involvement. Through the Housing and Development Board (HDB), the state develops most new homes, while the government owns the vast majority of the country’s land.
More than 70% of Singapore residents live in government-built homes, which are sold at subsidised prices and are often planned alongside transport links, schools, green spaces and other amenities.