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  • 06-12-14

    Canary Wharf rejects Qatar's USD4.1b bid

    (MENAFN) The owner of London's Canary Wharf rejected a raised USD4.1 billion bid for the financial district from Qatar and a North American investor saying it was too low, The Peninsula Qatar reported.

    He said the offer from Qatar Investment Authority (QIA) and Brookfield Property Partners LP "does not reflect the full value of the company, its unique position and future growth potential".

    The Canary Wharf financial zone was established about 25 years ago on former docks and is in a Songbird portfolio that includes part ownership of the landmark "Walkie Talkie" skyscraper in the City.

    Canary Wharf is preparing to start work on two major developments: a 60-storey tower with the first residential property on the estate and a 20-acre waterside site with 3,100 homes and office buildings.

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