"At approximately 2.39 pm on Wednesday, 8 July, police were called to Gale Street to a report of a crane that has collapsed into a residential property and a building site. Officers are on scene. We have received reports of four people suffering from injuries at this time. Road closures are in place and police are assisting the local authority", the police said, as quoted by MyLondon website.
The London Fire Brigade has arrived at the scene and performed a complex rescue operation.
"There are reports of that least one person that may be missing and unaccounted for in the houses. The London Ambulance Service have confirmed that two people have been taken to hospital with head injuries and a further two were treated at the scene", the brigade said in a statement.
The brigade has advised people to steer clear of the area as a multi-agency response is underway and will likely take some time.
"A further update from the scene at #Bow. Sadly, despite the efforts of emergency services, a fifth person has been found and died at the scene. Our thoughts are with their family at this difficult time", the London Ambulance Service said on Twitter shortly later.
Footage from the scene shows a traditional suburban London low-rise sliced through to the ground by the crane, with the area covered in thick smoke. An ongoing construction site can also be seen of videos and images with an unfinished scaffolding-covered multi-storey building.