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Citi to spend $100 million on revamping London tower block

Citi to spend $100 million on revamping London tower block

Citi is to undertake a $100 million refurbishment of its skyscraper in Canary Wharf, reflecting optimism about Britain's role in a post-Brexit future and a switch to more flexible working practices in the wake of the pandemic.

Set to house 9000 staff, the revamped tower block will embrace flexible work and collaboration spaces, alongside well-being zones for employees.

“Our aim is to create an environmentally sustainable, innovative and exciting place to work, incorporating modern design, state-of-the-art technology, and best practices in employee and client spaces,” says David Livingstone, Citi’s Emea CEO. “Citi Tower is a significant investment in our people and our growing business in the UK and the broader Emea region.”

Citi purchased the 42-story office tower at 25 Canada Square in 2019. The decision to refurbish the building and bring it up to modern efficiency and environmental standards instead of demolishing the existing structure is expected to save the release of an estimated 100,000 tonnes of embodied carbon, the equivalent of running almost 22,000 family cars for a year. Updating infrastructure and implementing efficiency measures will also minimise electricity consumption and reduce water consumption by 20%.

Citi has commited to a hybrid working approach, enabling staff to spend a maximum of two days a week working from home and three days in the office. As such, Citi Tower will be refurbished to reflect the changing nature of work, says Livingstone, with even greater emphasis on shared spaces where colleagues can come together.

“We’re a business of energy and ideas, and we thrive on bringing people together,” he says. “Our rejuvenated Eemea headquarters will be designed to maximise collaborative work-spaces, supported by technology, to enable us to work flexibly and with maximum agility.”

The renovation is expected to be completed in 2025.

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