The event will take place between 5-7pm on November 17, at the corner of Hatton Garden and 120 Holborn, and will feature music and entertainment and some VIP guests.
Businesses in the area have been invited to get behind the celebrations by participating in a late night shopping event, a Christmas Shop Window competition for retailers and special ‘one night only’ exclusive offers from jewellery retailers and restaurants and bars locally.
The event is aimed at marking the start of the campaign for establishing a Business Improvement District in Hatton Garden.
Speaking at a reception with local businesses on 6th October, BID chairman Gary Williams said: “Working together sits at the very heart of the BID movement – businesses, some of whom naturally compete commercially against each other, coming together and working in partnership to take forward ambitious agendas to enhance the economic environment so that everybody in the area benefits.”
A spokesperson for the Hatton Garden BID campaign said: “There is more competition than ever across London and BIDs are playing a crucial role in promoting key destinations and supporting business growth across the capital.
“With the ever contracting public purse, the private sector is having a greater say on how the public realm is managed. More than simply improving areas, BIDs are now powerful business alliances with the private sector coalescing around shared social and economic regeneration goals.
“Able to raise funds through a levy paid by local businesses, BIDs are also able to leverage additional investment to deliver tangible improvements.”
Part of the aim of the BID is to capitalise on increased footfall expected as a result a major Crossrail hub station opening at nearby Farringdon station when the new line is completed.
Initiatives such as signposting denominating Hatton Garden as the ‘jewellery quarter’ to attract tourists from other parts of London, are on the discussion table.
In the coming weeks and months the BID will be working with the businesses across the area to define its specific priorities, culminating in a ballot of local businesses by summer 2016.