
Qatari Diar Real Estate Investment Company and Canary Wharf Group have signed a deal with Shell International to redevelop the Shell Centre site on London’s South Bank.
The two companies have entered into a 50:50 joint venture, and will each contribute £150 million to secure the 5.25 acre site on a 999-year lease.
Canary Wharf Group will act as the construction manager for the project and will also be joint development manager with Qatari Diar.