Canary Wharf is entering a new era.
JPMorganChase has confirmed plans for a multi-billion-pound global HQ tower on the long-awaited Riverside South site, in what is being hailed as one of the biggest votes of confidence in London in over a decade. Designed by Foster + Partners, the tower will exceed 3 million sq ft, accommodate more than 12,000 staff, and is set to become one of the largest office buildings in Europe.
The investment, estimated at over £3 billion, comes with enormous economic weight: £9.9 billion contributed to the local economy and 7,800 jobs supported during six years of construction. For Canary Wharf, this is nothing short of transformational.
After years of pandemic-driven uncertainty, shifting office demand and tenant relocations, Canary Wharf has fought hard to reassert itself. The district has recently enjoyed its strongest leasing year in a decade, but JPMorgan’s new tower takes the recovery to a different level entirely.
The project includes:
JPMorganChase has confirmed plans for a multi-billion-pound global HQ tower on the long-awaited Riverside South site, in what is being hailed as one of the biggest votes of confidence in London in over a decade. Designed by Foster + Partners, the tower will exceed 3 million sq ft, accommodate more than 12,000 staff, and is set to become one of the largest office buildings in Europe.
The investment, estimated at over £3 billion, comes with enormous economic weight: £9.9 billion contributed to the local economy and 7,800 jobs supported during six years of construction. For Canary Wharf, this is nothing short of transformational.
After years of pandemic-driven uncertainty, shifting office demand and tenant relocations, Canary Wharf has fought hard to reassert itself. The district has recently enjoyed its strongest leasing year in a decade, but JPMorgan’s new tower takes the recovery to a different level entirely.
The project includes:
- New public parkland along the Thames
- A redeveloped dockside area
- Terraces, rooftop spaces, wellness facilities
- Restaurants, cafés, and cycling amenities
- Major accessibility improvements for the Riverside area
For a district once criticised for being monocultural, the message is clear Canary Wharf is evolving into a mixed-use, human-centred urban hub.
London’s Mayor, Sadiq Khan, praised the announcement, calling it: A huge vote of confidence in the capital’s future and a testament to our enduring status as a global powerhouse for finance, innovation and talent.
London’s Mayor, Sadiq Khan, praised the announcement, calling it: A huge vote of confidence in the capital’s future and a testament to our enduring status as a global powerhouse for finance, innovation and talent.
He highlighted that the project not only strengthens London’s financial leadership but also supports growth across the UK, fuelling supply chains from engineering and construction to hospitality and transport.
Khan’s message echoes a broader narrative despite global headwinds, London remains the most attractive financial centre in Europe, and multinational institutions are doubling down rather than pulling back.
Chancellor Rachel Reeves welcomed the decision as validation of her growth-first budget, noting that stability and pro-investment policy were key factors in JPMorgan’s choice.
For a bank with 13,000 London employees and an annual local economic impact of £7.5 billion, this is not merely an upgrade, it is a long-term strategic anchor.
The ripple effects will extend far beyond the Wharf:
Khan’s message echoes a broader narrative despite global headwinds, London remains the most attractive financial centre in Europe, and multinational institutions are doubling down rather than pulling back.
Chancellor Rachel Reeves welcomed the decision as validation of her growth-first budget, noting that stability and pro-investment policy were key factors in JPMorgan’s choice.
For a bank with 13,000 London employees and an annual local economic impact of £7.5 billion, this is not merely an upgrade, it is a long-term strategic anchor.
The ripple effects will extend far beyond the Wharf:
- Boosted demand for construction, engineering, and specialist services
- Thousands of supply-chain jobs
- Increased footfall for local businesses
- Catalyst for further development along the riverside corridor
- Confidence signal for global investors considering post-Budget UK opportunities
Canary Wharf is no longer fighting to stay relevant. With JPMorgan’s tower, it is re-establishing itself as Europe’s premier financial district, enhanced by modern urban design, green spaces, and world-class infrastructure.
London is evolving and this tower will become one of its defining symbols.
London is evolving and this tower will become one of its defining symbols.
