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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Canary Wharf set to win Shell Centre redevelopment bid

Posted on 25 July 2011

The property developer Canary Wharf Group is set to be selected by Royal Dutch Shell to transform the area around the oil firm’s London headquarters, near Waterloo station. The developer, which is majority owned by Songbird Estates, has teamed up with Qatari Diar, the property investment arm of Qatar’s sovereign wealth fund, to offer up to £350m for the redevelopment deal, the Sunday Times reported this weekend.
The deal will see houses, offices and shops built on the five acres of land surrounding the well-known 1950s tower in central London. The first phase is expected to be completed by 2016……………………………………….Full Article: Source


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