The Greater London Authority has given the green light to ABP and Stanhope’s £1.7bn Royal Albert Docks development.
It marks a major step towards the scheme receiving full planning permission, with both the GLA and Newham Council giving their stamp of approval for the project.
A final decision must be made by the communities secretary before ABP can progress.
Work is expected to begin on the 14 ha site later this year, with the first phase scheduled for completion in 2018.
ABP chief operating officer and executive director John Miu said: “Obviously we are delighted by how the whole planning process has progressed and we are looking forward to getting under way and completing our first phase in just three years.”
ABP is a Chinese developer and has completed regeneration projects across China.
The first phase of the Royal Albert Docks will open at the same time as the nearby Crossrail station.
It is estimated to be worth £6bn once fully complete.