Shanghai-based Greenland Group has received planning permission to build what it claims will be Western Europe’s tallest residential tower in London.
The Greenland Group was founded in 1992 and currently has 82 million square metres under construction around the globe. The Chinese firm has already built three of the world’s ten tallest buildings since 2005.
Chinese developers have been piling into the London real estate market for the past few years but are expected to start pulling back influenced by the slowdown in their domestic market.
Overlooking West India Quay
The new tower has been designed by U.S.-based architect HOK, the petal-shaped Hertsmere House will rise to over 240 meters (67-storeys) to overlook West India Quay in London’s Canary Wharf, the U.K. home to many global banks.
Greenland Group is also giving the local authority, the borough of Tower Hamlets, $26 million for affordable housing and a further $29 million under a community infrastructure levy required by U.K. planning regulations.
Most Important Project in Europe
«This is Greenland Group’s most important project in Europe,» said Setareh Neshati, senior planning manager at Greenland Group.
Elsewhere in London, Greenland is also redeveloping the historic Ram Brewery in Wandsworth, Britain’s oldest brewery, and has said it is searching for more opportunities in the capital.
