Citi, which employs 9,000 people in London, has announced a refurbishment of its 42-storey tower at 25 Canada Square, which it bought for a reported £1 billion in 2019.
The office block is to be totally revamped in a project set for completion by 2025. It will cost upwards of £100 million and be one of the biggest office refurbishments in Europe.
The investment is a major vote of confidence in London’s future as a global financial hub post-Brexit and in the future of the office post-pandemic. Some commentators had suggested the rise of flexible working could be the death knell for the office.
Canary Wharf CEO Shobi Khan said he was “delighted Citi is making a longterm commitment” to the area.
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