Qatar Investment Authority ready to build 57-storey residential tower in London

Canary Wharf Group, a wholly owned joint venture between Brookfield Property Partners and the Qatar Investment Authority, has received planning approval to build a striking residential tower at its New Phase site (formerly known as Wood Wharf).
The 57-storey building will comprise 468 apartments ranging from studios to large three bedroom family units. It will occupy a prominent waterfront location on the edge of South Dock, directly to the east of the existing Canary Wharf estate.
Designed by world-renowned Swiss architects Herzog & de Meuron who created the Beijing Olympics’ Bird’s Nest stadium and the Tate Modern, the cylindrical residential tower will form a key part of the new residential offering at Canary Wharf.
The wider development site will be transformed into a 4.9m sq ft mixed use, waterside community providing over 3,200 new homes, nearly 2mn sq ft of high quality commercial office space, and a further 335,000 sq ft of shops, restaurants, a school and landscaped parks and walkways.
Sir George Iacobescu, chairman and chief executive officer of Canary Wharf Group, said: “We are delighted to have received approval from Tower Hamlets Council to proceed with the latest building in Canary Wharf Group’s extensive pipeline and exciting residential offering. This decision is a major step in the progression of the New Phase, a development that will broaden and extend the Canary Wharf estate, adding to its vibrancy and continually expanding cultural, community and commercial offer.”
The permission comes just days after the launch of Canary Wharf Group’s first ever homes, at 10 Park Drive, adjacent to the Herzog & de Meuron tower. A Stanton Williams designed building, 10 Park Drive is a mid-rise 13 storey building adjoining a 42 storey tower, together containing 74 studios, 115 one-bedroom apartments, 141 two-bedroom apartments and 15 three-bedroom apartments.
Canary Wharf is located in the West India Docks on the Isle of Dogs in the Borough of Tower Hamlets in East London. The West India Docks once formed part of the busiest port in the world. Wood Wharf was historically used for the shipping and storage of timber and the repair of ships. This use continued throughout most of the 20th Century until the late 1960s and early 1970s when the ship repair yard and dry dock ceased operation.
The Canary Wharf Estate has transformed the area with a focus on developing an environment that offers an attractive place to live and work.
Canary Wharf Group has overseen the largest urban regeneration project ever undertaken in Europe. It designs, builds and manages a unique set of assets to serve local and international companies, renowned retailers and some of the UK’s most exciting technology start-ups.