Industry heavyweight AXA will continue with its plan to build London’s tallest skyscraper despite prevailing market jitters following the Brexit vote, the company’s real estate manager has announced.
The French insurance giant, which leads the consortium behind the 22 Bishopsgate project, aims to complete the 62-storey tower in 2019, the Financial Times
“Our ongoing commitment to 22 Bishopsgate reflects our firm belief, and that of our clients and partners, in this development project, aligned to the fact we are taking a long-term view of this investment,” Pierre Vaquier, chief executive of Axa Investment Management’s real assets division, was quoted as saying in the report.
The insurer had deferred the launch of the project as it awaited the results of the Brexit referendum in June. Vaquier previously said that the company will have to “revisit the options” if the UK voted to leave the European Union.
Months after the historic Brexit vote, AXA is pressing ahead with the project “notwithstanding the current uncertainties created by the EU referendum,” according to a report by Reuters.
The company said its confidence was based on the broad range of amenities and types of space that the skyscraper would offer, along with its location in London.
reported that AXA was confident “in how appealing this highly progressive development will be to all types of international and domestic occupiers.”
Soaring 278 metres into the London skyline, the tower will have 130,000 square metres of offices, shops and restaurants and will house 100 companies and 12,000 people.
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