Business & Finance
Canary Wharf set to win Shell property deal
LONDON : UK developer Canary Wharf Group is set to be selected by Royal Dutch Shell to transform the area around the oil
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LONDON: UK developer Canary Wharf Group is set to be selected by Royal Dutch Shell to transform the area around the oil firm's London headquarters, the Sunday Times reported without citing sources.
The developer, which is majority owned by Songbird Estates, has teamed up with Qatar Diar, the property investment arm of Qatar's sovereign wealth fund, to offer up to 350 million pounds ($571 million) for the redevelopment deal, and said the paper.
Shell is expected to announce the deal, which will see houses, offices and shops built around the Shell Centre near Waterloo station in central London, in the next two weeks.
Shell and Canary Wharf Group both declined to comment on the report on Sunday.
Copyright Reuters, 2011
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