Wood Wharf project gets green light in financial hub’s first major expansion since 2008 financial crisis
More than 3,000 homes are to be built at the eastern edge of Canary Wharf after Tower Hamlets council approved the project, the first extension to the financial district since the 2008 banking crisis.
Canary Wharf Group, majority-owned by Songbird Estates, has been granted planning permission to construct 30 buildings, comprising 4.9m square feet of homes, offices and shops, at Wood Wharf, just a stone’s throw from the headquarters of some of the world’s largest banks.
Markit/CIPS construction PMI slips as growth slows in commercial space such as offices, shops and warehouses
British construction grew at the slowest pace in seven months in May but economists said the outlook remained strong amid a boom in housebuilding.
The Markit/CIPS construction PMI, which measures building activity, edged lower to 60 in May from 60.8, mainly reflecting slowing growth in commercial space such as offices, shops and warehouses.