Qatar’s wealth fund is revising plans for London’s HSBC tower amid a recovery in office demand
Qatar’s sovereign wealth fund, Qatar Investment Authority (KIA), is revising plans for its HSBC skyscraper in Canary Wharf to retain more office space.
The 45-story tower, which KIA bought in 2014 for £1.1 billion ($1.44 billion), was originally planned for a mixed-use redevelopment, including leisure, entertainment and educational facilities. Now, up to 80% of the building may remain as offices following a global recovery in office demand as companies encourage a return to physical workplaces, Nevs.Az conveys, quoting Reuters.
The revised plan is also expected to reduce the cost of the project, while retaining the exterior design proposed last July. Former Canary Wharf Group chairman George Iacobescu was brought in as an adviser to help manage KIA’s UK assets and improve sustainability credentials.
HSBC is scheduled to vacate the building in 2027. The plan remains subject to change depending on demand from future office tenants.
2025-11-20 13:57:00
