The ever changing skyline of the City of London will look very different by the end of the decade, as the City has released a vision of what the Square Mile will look like in 2030.
The new images capture all major developments which have been approved or resolved to be approved by the City Corporation over the past 12 months and has been released amid a strong year of activity for the Planning and Transportation Committee, including a 25% increase in the applications received and decided, compared with the same period last year.
With city worker numbers rising by 29,000 since 2021 and now standing at 617,000 in total, the City of London is considering development proposals that would provide over 500,000 sqm of office space, equivalent to roughly 70 football pitches, with a further 500,000 already approved and under construction.
Demand for sustainable office space remains high, as estimates based on GLA data show that city job numbers should grow by a further 85,000, up to 2040. This is backed by a report from Arup and Knight Frank, showing a need of approximately 1.2m sqm of extra office space in the city by 2040, to accommodate this job growth.
Chair of the Planning and Transportation Committee at the City of London Corporation, Shravan Joshi, said: “These new CGI images clearly illustrate the ever-changing nature of London’s incredible skyline. It demonstrates that the City office is here to stay, and that the Square Mile’s real estate sector is robust and thriving, despite wider economic concerns.
“Through our flagship ‘Destination City’ policy, we are creating a culturally vibrant, inclusive and welcoming City, enabled in part by these tall towers which help accommodate the hospitality, leisure, social and cultural destinations that are flocking to the City.
“The City Corporation’s strong performance this year is underpinned by the Built Environment team’s efforts to de-risk many of the variables associated with real estate investment. This includes providing clear policy directives, working closely with stakeholders and undertaking transparent consultation on schemes.”