QIA to Redevelop 8 Canada Square Building in Canary Wharf

Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, and London’s Canary Wharf Group (CWG) on Thursday released the first images of architectural plans that display the ambition for the redevelopment of the iconic 8 Canada Square building in Canary Wharf.

The 44-storeyed 8 Canada Square was acquired fully by QIA for $1.42 billion some 10 years ago and CWG is the development partner. 

Kohn Pedersen Fox (KPF), the world-renowned architectural practice won a global competition run by QIA and CWG to reimagine the building. KPF will work with a market-leading team across design, engineering, planning and delivery on one of the world’s largest redevelopment projects. The project is set to begin in 2027, following the expiry of the current HSBC lease.

The images of the 1.1 million sq ft building demonstrate the transformation into a unique destination, which will include best-in-class workspaces, leisure, entertainment, education, and cultural attractions.

The cost of the ambitious project has not been revealed but could be somewhere between $516.19 million and $1.03 billion once designs are finalised. The redevelopment will create a unique proposition for businesses within 8 Canada Square, with unparalleled sustainability credentials, excellent transport links and amenities.

Set in the heart of Canary Wharf, the plans will enable a new publicly accessible route between the adjacent Elizabeth line station and Canada Square Park as well as offering the outstanding views across London from Canary Wharf to the public for the first time.

Transforming 8 Canada Square

The investment from QIA to transform 8 Canada Square is a flagship example of Qatar’s sovereign wealth fund’s vision for multi-use real estate of the future, ensuring that the iconic building has world-class ESG credentials and meets the changing requirements of business for the long term.

The building’s changing shape will create a unique proposition for businesses within 8 Canada Square, with users also benefitting from being in Canary Wharf, where visitor numbers are at an all-time high with 67.2 million people visiting Canary Wharf during 2023.

CWG CEO Shobi Khan said that they were looking forward to working with QIA on 8 Canada Square to deliver a building of outstanding design, engineering and sustainability standards.

“This redevelopment is another step in Canary Wharf’s evolution into a vibrant mixed-use neighbourhood offering workspace, retail, homes, leisure and amenities all in one location – a true 15-minute city,” Khan said.

Design Principal at KPF Elie Gamburg said that they were excited to collaborate with QIA and CWG to reimagine the single-use office building as a blueprint for the highly sustainable, mixed-use building of the future.

“This transformation embodies the ethos behind much of our work, we see it as an integral part of the evolution of today’s single-use neighbourhoods into vibrant mixed-use neighbourhoods of tomorrow – an evolution of which CWG is already leading the way,” Gamburg said.

CWG and QIA will be working with the London Borough of Tower Hamlets and the appointed team to develop plans and submit a planning application.