InterContinental will open its third London property as part of Quintain Estates and Knight Dragon's Greenwich Peninsula regeneration project.

Due to open in summer 2015, the InterContinental London The O2 will be operated by Arora Hotels.

The 19-storey building will house 452 guestrooms, as well as a spa, restaurants and a Sky Bar with views of Canary Wharf and the River Thames. In addition, more than 51,666sq ft (4,800sq m) of space for conferences and events and a large pillar-free ballroom will be included.

The multi-million pound development, which will be funded by the Queensgate Investment Fund, will also include The Peninsula Tower – a 23-storey development of 100 serviced apartments.

The Greenwich Peninsula redevelopment aims to turn the area into a key part of London’s commercial landscape. When complete, it will provide 190 acres of new business, leisure and living space, including 10,000 new homes.

Robert Shepherd, chief development officer for the InterContinental Hotels Group, said: “We look forward to InterContinental London The O2 sharing in the future success of its sister hotels, including the recently opened InterContinental London Westminster and InterContinental Marseilles Hotel Dieu.

“The recent sale of the InterContinental London Park Lane and the soon to be open InterContinental Davos Resort and Spa is a testament to the brand’s growth globally and its attractiveness as an icon of luxury.”

The hotel will be designed to be sustainable to BREEAM Excellent standards and will have features such a green roof and water harvesting system to reduce demand on the mains supply.