The 19-storey five-star hotel will have 452 rooms and large conference facilities.It will be called The InterContinental London The O2. It will be designed to BREEAM Excellent standards and will be built on land reclaimed from previously polluted soil.
The £121m development will also include The Peninsula Tower, a 23-storey development offering 100 serviced apartments.
Construction is expected to take two years, using bathroom pods built off-site as well as pre-cast piling to save time.
Balfour Beatty’s client is Grove Developments. The project is being funded by the Queensgate Investment Fund.
Balfour Beatty regional managing director Mike Peasland said: “Sustainability is a key part of our offering on this project and we are using our expertise not only to reclaim a previously contaminated site but to build a hotel which uses the natural environment to provide part of its energy.”