London's Canary Wharf plans Europe's biggest life sciences tower

Canary Wharf Group is planning to build a 23-floor tower for the life sciences industry which it says will be Europe's biggest such construction, as the London hub aims to diversify from a financial industry in retreat. "We have been developing our vision for a world-class life sciences hub at Canary Wharf since 2019, and this is a significant milestone in our journey," CWG Chief Executive Shobi Khan said. The building comes as financial services companies looking to cut costs are reducing their presence in Canary Wharf, a regenerated district that was formerly London's docklands area but now houses big banks such as Barclays and HSBC. The Financial Times, which earlier reported the new life sciences tower, said the development could cost 500 million pounds.