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engineers india limited (532178) gets regulatory approval ✌️【Stock Market Analyst】✌️ Free access to global stock market data, with real-time updates on indices, futures, and commodities. Make informed investment decisions with the help of expert advisors and accurate stock trend predictions. The proposed 309.6-meter (1,015.75-foot) tower, which will be exactly the same height as London’s Shard, was given the go-ahead after a previously approved plan was revised “to better respond to post-pandemic office needs,” the City of London local authority said on Friday.

Officially called 1 Undershaft, the tower was initially granted approval at a slightly smaller height in 2016 but never started.

engineers india limited (532178) gets regulatory approval ✌️【Stock Market Analyst】✌️ Free real-time stock market data, professional analysis, and expert insights to help you plan the best investment strategy. Get ahead of the competition with expert predictions on market trends. The proposed building, which investor Aroland has been trying to get off the ground for years, will require the demolition of an existing smaller tower and has attracted criticism from conservation groups.

Historic England said in a consultation response to City planners in February that the alterations had not altered its impact and said it would “seriously degrade” the public realm around it.

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London’s office market has been hit hard by higher borrowing costs and more home working post-pandemic, although premium space has remained in demand.

Very few major London office properties have been sold this year. Investors Nuveen and Brookfield are currently trying to sell London office towers, in a major test for investor appetite.

engineers india limited (532178) gets regulatory approval ✌️【Stock Market Analyst】✌️ Professional stock market analysis, real-time data, and expert recommendations for high-potential stocks. Take advantage of market opportunities and improve your capital growth with strategic investment plans. The supply of new space to let in London has slowed since the pandemic. However, office construction in the City has recently bucked the trend, with new starts up 7% between April and September this year, compared to falls in every other central London market surveyed by Deloitte.

Critics say London’s skyline has become increasingly cluttered by generic glass-and-metal towers that dwarf historic landmarks, especially in the City of London, home to St. Paul’s Cathedral.

“As another, much needed office development gets approved in the City of London, it speaks to the confidence that global investors have in the London real estate market and the UK economy more widely,” said Shravan Joshi, chairman of the City of London Corporation’s Planning and Transportation Committee.

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