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.”
