Member Article

Teenage millionaire to invest £20m in Croydon development

A Croydon native is set to invest 20m in a new two-tower multi storey development in the borough in a bid to boost the local economy and create new jobs.

According to Croydon Advertiser, the teenager behind the project, Hashim Haq, is hoping that his investment in the building, which will include a stock-market style trading floor and a roof-top shisha bar, will encourage young people to take part in stock market trading

Haq, who made his fortune as a foreign exchange trader working from home, recently invested £500k in a disused pub and opened the biggest shisha lounge in London, Aroma Shisha.

He said: “I want to invest not just money but knowledge into Croydon.

“It seems like a lot of people in Croydon are finding it hard to find jobs.

“I have thought about making this investment in central London but my home is here, my family is here.”

He added: “When you tell people you are investing (so much money) in Croydon they say ‘are you crazy?’ But I think it’s the best place to be investing at the moment.

“We are seeing two-bedroom flats in central Croydon breaking the £500,000 price barrier, five years ago that would have been almost unheard of.”

Construction is expected to begin next Autumn and take three years.

This was posted in Bdaily's Members' News section by Ellen Forster .