Places for London contributes £1 billion of value to London’s economy since formation in 2023

Places for London, Transport for London’s (TfL) property company, has now contributed more than £1 billion in added value to London since the organisation was formed in 2023. The announcement comes with the publication of the latest edition of the company’s ‘Our Contribution’ report, revealing that Places for London generated £447 million contribution to the capital through its development, asset management and operational activities during the 2025/26 financial year. This new report demonstrates how it is helping tackle some of the capital's biggest challenges by delivering affordable homes, supporting economic growth and leading sustainable development across London.

The report shows that homes that were built by Places for London and its partners have generated an estimated £8 million in annual societal benefits, including improved health outcomes through greater housing stability, enhanced educational opportunities, and cost-of-living savings for residents. Places for London’s construction skills academy has now trained over 12,000 Londoners, with those securing employment through training in 2025/2026 benefiting from a projected uplift of £66m in lifetime earnings.

Environmental sustainability has remained key to Places for London’s approach. Working with industry-leading partners, its new developments are delivering significant carbon efficiency (on average 31 per cent lower embodied carbon than the industry benchmark for residential schemes), while schemes completing in 2025/26 include more than 2,300 square metres of Sustainable Drainage Systems (SuDS) designed to improve climate resilience and biodiversity.

Additionally, the company is refurbishing its existing properties to improve energy and greenhouse gas performance. Places for London is a market leader in new development with two of its schemes – the residential development, Bollo Lane phase two and commercial office development, 10 King William Street  - used as pilots to help shape the countrywide UK Net Zero Carbon Building Standard that launched earlier this year.

The report also highlights how Places for London is supporting London's economy, in 2025/26 generating around £389 million in economic contribution through investment, employment, wages and taxes while supporting around 12,000 jobs across its London-wide estate.

In the three years since it was formed, Places for London has now delivered more than 2,000 homes, with 58 per cent affordable housing across its portfolio. More than 4,900 homes have been started on site, helping address London's housing shortage while creating long-term social and economic value.

Alongside the ‘Our Contribution’ report, Places for London has also launched the sector-leading Sustainable Estate Framework (SEF) which is designed to guide the company in delivering its ambition to grow revenue and attract institutional investment by making sustainability a core part of its decision-making.

Building on the Sustainable Development Framework (SDF) launched in 2021, the SEF provides a practical, KPI-driven approach for assessing sustainability performance throughout a project's lifecycle. Through the three pillars in the SEF, Places for London will help balance commercial performance with environmental and social outcomes. These include promoting vibrant and diverse communities, creating healthy places for people and supporting and developing local economies across the capital.

Gordon Rogers, Head of Sustainability at Places for London, said: "Our Contribution’ demonstrates the scale and the value Places for London delivers by creating great places for people to live, work and thrive. The results are clear, we are helping London grow and giving new opportunity to people, business and communities – including those with most need – so the city can continue to be its best, with new homes and destinations that people want to be in.

"We are committed to building on these results, and our new Sustainable Estate Framework will see us create inclusive, vibrant places whilst delivering transport improvements that support healthier communities."

Howard Dawber, Deputy Mayor of London for Business, said: "Places for London is making a significant contribution to our ongoing work to grow the capital’s economy, deliver much-needed affordable homes and champion sustainable development. The Mayor and I are determined to continue to support local businesses, tackle the housing crisis, and create lasting economic growth across the city as we build a fairer and more prosperous London for everyone."

Muniya Barua, Chief Executive of BusinessLDN, said: "London needs more homes, more investment and more opportunities for people and businesses to thrive. Places for London is helping deliver all three, turning the potential of its estate into tangible economic and social benefits for the capital.

“Its work shows the important role that long-term, ambitious investment in London’s places can play in supporting growth and creating a more prosperous and sustainable city."

Tom Hill, Director, Impact Strategy, at Savills said: "Working in partnership with Places for London to develop the Strategic Impact Framework has been a fantastic privilege. ‘Our Contribution’ is a genuine innovation in impact appraisal that’s capable of demystifying what ‘Good Growth’ really looks like in practice."

Alongside economic growth and building homes across London, Places for London's skills programmes are delivering significant benefits for Londoners. Since 2019, more than 12,000 people have been trained through construction skills programmes, seeing many learners take the skills they’ve learnt with Places for London and its partners, to go on to permanent employment or further training, directly addressing the skills shortage and helping get people into work. With recent initiatives including helping care leavers take their first steps into new careers in a collaboration with Olympian Fatima Whitbread’s charity, Fatima’s UK Campaign.

With 95 per cent of tenant businesses on their estate classified as small and medium-sized enterprises, Places for London continues to play a key role in helping local businesses thrive. Over the past year, Places for London has launched the Places for Growth programme helping small businesses looking for their first bricks and mortar site. It is also investing in key locations such as Paddington, Old Street and Whitechapel to refurbish and modernise units around Tube stations, allowing Places for London to carefully select retailers that can move in, add to the local community and make the most of these sites with guaranteed high footfall.

To view the Our Contribution report, the SDF and SEF – visit the Places for London website.