Surrey Quays is an amorphous area, which is basically contiguous with the old boundaries of the Surrey Commercial Docks - for the very simple reason that until 1970, that's what it was. With most of the dock area filled in, the 80s and 90s saw a vast redevelopment of the area and 5000+ homes being built here.
Essentially, Surrey Quays is a modern development, but has become a lynchpin of South London in the brief time it's existed. It would be simplistic in the extreme to call it merely a mostly-recent development of course; it's more than this, having become a social and entertainment and shopping capital of the area in its short life.
Surrey Quays is all about housing, shopping and entertainment - the exact ratio depends what you're looking for. The main shopping centre has a huge range of stores, although there are on the little streets leading away from this some nice individual traders and shops to choose from. There's also excellent leisure, with bowling, cinema, sports facilities, swimming and watersports in easy access. This ignores though the many social and community activities which also go on in the area, with events and classes going on all the time. Surrey Docks still exists, and has a marina, as well as a wonderful little city farm which is a must-visit for anyone with children. Walks include many along the Thames - some of course to the excellent local pubs which line the river here! - and chief amongst them is the Thames Path.
Both on the river itself and in little areas inland are a collection of excellent gated developments offering a variety of sizes of apartment to young professionals and couples looking to get riverside living at a good price. There are also superb high-spec apartments in blocks overlooking the river and Canary Wharf across the water.