London’s skyline is about to get a complete makeover. While in the past, almost every tower proposed was stalled due to financial shortcomings, or workers just leaving the job site, now, London is dusting off their old building plans and getting ready to move into a construction frenzy. Thanks to Kieran Long’s article at the Evening Standard we get to know more details about this process:
Don’t get us wrong – London is still right in the middle of the same financial turmoil we are all experiencing. Peter Rees, the chief planning officer of the City of London, explained, “I don’t see this as the start of a new property boom. Developers are simply meeting demand that currently exists, because there is a shortage of grade-A office space in the City. In the longer term, people have significant question marks about the state of the world economy and so on. They’re just getting the product there while there’s demand.”
