Canary Wharf Group plans to invest £3.9bn into its new urban district in east London, Wood Wharf.
At a launch party for the site on Tuesday (9 October), CWG chief executive George Iacobescu also said the proposed 3,600 apartments at Wood Wharf would include “affordable and intermediate rent”.
He added that the development, expected to be completed by 2023, would also feature around 40 shops.
CWG, which is overseeing the development of the site, is owned by the Qatar Investment Authority, the country’s sovereign wealth fund.
The scheme was approved by Tower Hamlets Council in 2014.
The first phase of buildings is to be delivered in 2019 and 2020, and will offer 2m sq ft of commercial space.
In April, CWG agreed its first leasing deals at Wood Wharf with flexible workspace provider The Office Group and hospitality developer and operator Ennismore.
Ennismore agreed to take around 100,000 sq ft on a 25-year lease over the ground floor and levels 4-9 at 15 Water Street, a 180,000 sq ft building due to complete in Q2 of 2021. The scheme will house a 312-room hotel operated by Ennismore’s NoCo brand.
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