The London Docklands underwent redevelopment in the late 20th century after decades of decline as the shipping industry faded. The London Docklands Development Corporation was established in 1981 to redevelop the area, attracting new businesses, building luxury housing, and creating parks and leisure attractions. Major developments included the Canary Wharf financial district and the Docklands Light Railway. By 1998, the Corporation had attracted billions in public and private investment, reclaimed over 1,000 acres of land, and transformed the Docklands into a thriving commercial and residential center.