Canary Wharf Group Reveals Plans For Major Business District Development

    Last Tuesday, the plans to develop Canary Wharf into the largest tech and creative cluster in London were revealed. The business district is aiming to attract fast-growth companies in an attempt to generate approximately 20,000 new jobs in the city.

    According to Canary Wharf Group, a new 23-acre quarter that is named Wood Wharf is aiming to attract “a larger number of tech jobs than in the entire city of Cambridge.”

    Two million square feet of the 5 million square feet mixed-use project that is situated on the Isle of Dogs to the east of the present skyscrapers is set to be dedicated to the companies as part of a new master plan for the waterside area.

    The area of urban regeneration will also be featuring 3,600 new homes.

    It will be overseen by Canary Wharf Group (CWG) that is owned by the sovereign wealth fund of the country, the Qatar Investment Authority (QIA).

    The president of techUK, Jacqueline de Rojas, stated: “London’s tech sector has grown at an extraordinary rate over the past five years.”

    She added: “The city needs infrastructure to accommodate this rapid expansion and Wood Wharf seems the perfect environment for start-ups and scale-ups with global ambitions.”

    Some of the big-name tenants that are already set to come under the roof of Wood Wharf is the owner of The Hoxton Hotels group and The Office Group, Ennismore. It will be taking a total of more than 180,000 sq. ft.