Mayor Boris Johnson has given the go-ahead for new commercial property developments in Canary Wharf.
By approving the planning proposals for schemes designed by Richard Rogers, Foster and Partners, and Patel Taylor, he has given the green light for five million square feet of London office space, a new Crossrail station and a 27-storey hotel.
He said he was determined to help minimise the effects of the current economic crisis “and ensure that I use my powers to support the development sector in particular”.
“We cannot stop building in our city and just as we will forge ahead with our huge house building programme, we must ensure the development process for all construction projects is as smooth and speedy as possible.”
His support for new offices in London, will be warmly welcomed by an industry that has felt the full force of weakening commercial property prices.
Canary Wharf has attracted many of the world’s leading financial companies and is a focal point for businesses in London.