EXCLUSIVE-Qatar's wealth fund shakes up London HSBC tower plans, sources say
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Qatar's sovereign wealth fund, the Qatar Investment Authority (QIA), is revising its plans for the HSBC skyscraper in London's Canary Wharf. Initially planning to diversify the building's use, QIA now considers retaining up to 80% of the tower as office space due to a global increase in office demand. This change aims to reduce project costs and adapt to market needs. The plans, advised by George Iacobescu, are not final and may evolve based on client demands. QIA purchased the tower for £1.1 billion in 2014.
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