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Shard Secures Final Batch Of Funding

The question mark over whether London's supertall Shard will be built has been finally resolved with the announcement of a new injection of funding into the scheme.

The financial white knight comes in the form of the Qatari Diar Real Estate Investment Company who have agreed to provide an unspecified amount of funding for the project despite the current economic woes that are gripping other supertall projects around the world such as the Russia Tower in Moscow.

London Bridge Tower, better known these days as the Shard, is being developed by LBQ Ltd, a joint venture between the original developer Sellar Property and a series of Middle eastern backers, Qatar Islamic Bank, Qinvest, Qatar National Bank, and Barwa International.

The funding for the project includes not only the mixed-use 310 metre tall Renzo Piano designed skyscraper but also a nearby mid-rise 74 metre tall office building called London Bridge Place, and a new public space linking the two together.

Demolition of the area that the Shard will sit on is to be completed in January 2009 with work beginning to clear London Bridge Place set to begin in March 2009.

Construction work on both buildings will also begin in 2009 with the scheme aimed at being completed by 2012 rounding off over a decade of drama in the saga of realising what will eventually be London (and western Europe's) tallest building.
The Shard and London Bridge Station
The Shard and London Bridge Station