Canary Wharf Group Plc and Qatar’s sovereign-wealth fund won approval from Communities Secretary Eric Pickles to build almost 900 homes and about 75,000 square meters (800,000 square feet) of offices at Royal Dutch Shell Plc’s London headquarters on the banks of the River Thames.
Qatar Holding LLC, the owner of the Harrods department store in London, agreed to pay 136.9 million euros ($189 million) for Unibail-Rodamco SE’s 7.25 percent shareholding in French property company Societe Fonciere Lyonnaise SA.
German landlords have some of the worst pay policies for chief executive officers among European real estate companies when it comes to ensuring the best returns for shareholders, a study by Green Street Advisors Inc. showed.
Songbird Estates Plc, the property company that controls the Canary Wharf financial district in east London, said full-year profit rose after it leased more space. The shares rose the most since Jan. 7.
Songbird Estates Plc , the owner and manager of most of London’s Canary Wharf district, rose the most in more than eight months after a report that Qatar’s sovereign wealth fund, its biggest investor, aims to bid for the company.
Songbird Estates Plc , the property company that controls the Canary Wharf business estate, is in talks to form a joint venture with Land Securities Group Plc to build a City of London office tower known as the Walkie-Talkie.
Canary Wharf took less than 25 years to fulfill Paul Reichmann ’s vision of building a “mini Wall Street” in the U.K. to rival the City of London financial district. Investors are still waiting for their reward.
Madison International Realty LLC bought a “small” stake in Songbird Estates Plc, the company that controls Canary Wharf, as a greater diversity of industry makes it more attractive, according to the New York-based firm’s head of European investment.