London Tower Cracks Under Investor Pressure

21 September 2007 (Last Updated September 21st, 2007 10:48)

Plans to add the tallest building in Europe to the London Thames skyline have once again hit crisis point, with uncertainty surrounding funding for the giant 'shard of glass' project, designed by Italian architect Renzo Piano. Construction of the 70-storey London Bridge Tower is due to

Plans to add the tallest building in Europe to the London Thames skyline have once again hit crisis point, with uncertainty surrounding funding for the giant 'shard of glass' project, designed by Italian architect Renzo Piano.

Construction of the 70-storey London Bridge Tower is due to be complete by 2011, by which time it is expected 10,000 people will be ready to work in the skyscraper, filled with offices, viewing galleries, restaurants, shops and apartments.

Tower funding has come into doubt in recent times, according to Bloomberg news, which says funding by Syrian investor Simon Halabi, who owns a third of the project, is in question.

Halabi suffered personal losses with health and fitness chain Esporta going into administration of which he had a £460m investment.

By staff writer