QIA, Canary Wharf prepare for $1.6bn London development
- Qatar: Sunday, December 16 - 2012 at 01:30
Qatar Investment Authority (QIA) and UK-based Canary Wharf Group have announced plans to build as many as 790 homes at the site of Royal Dutch Shell's London headquarters to gain from surging prices and rising rents in the UK capital, Bloomberg has reported. Qatari Diar Real Estate Investment Co, a unit of the sovereign-wealth fund, and Canary Wharf Group will spend more than £1bn ($1.61bn), including land purchased last year, to develop eight buildings on the south bank of the River Thames. Six of the buildings, including a 37-story tower, will be residential properties, John Pagano, Canary Wharf's managing director of development, said. In July 201, 1Qatari Diar and Canary Wharf said they agreed to buy the 2.12-hectare site for £300m. The companies are seeking to get the planning permission by next June and complete construction of the new Shell building in 2015 or 2016, Pagano said. One of the housing buildings may be kept and used for renting out units, he said.
- Saudia to stop Jeddah-Kano service
- Iran cancels local drilling rigs deal, to buy...
- Oman Air first GCC carrier to order B737-900ER...
- Gamification hits the Middle East
- Sammy Tuffaha underscores importance of...
- Forum International introduces www....
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by Mediaquest FZ LLC and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
Mediaquest FZ LLC can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of Mediaquest FZ LLC.
In no event shall Mediaquest FZ LLC be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.