Qataris pledge to expand Canary Wharf

The £2.6bn takeover of Canary Wharf formally went through yesterday

The £2.6bn takeover of Canary Wharf formally went through yesterday, with its new owners, the US property giant Brookfield and Qatar’s sovereign wealth fund, promising it a bright future.

Ric Clark, the chief executive of Brookfield, said: “Canary Wharf remains one of the most treasured property estates in the world. We look forward to working with Qatar Investment Authority and the Canary Wharf Group management team to advance the substantial development pipeline, and to realise the full potential of the site for our tenants, stakeholders and the people of London.”

Sheikh Abdullah bin Mohammed al-Thani, the chief executive of QIA, said the new owners would pursue “further expansion through the creation of a sustainable, mixed development comprising offices, homes as well as retail and leisure space”.