London's biggest office block is being built in Canary Wharf - twice the size of the Shard

"The global banking giant has said it wants to build a three million square-foot (280,000 square-metre) skyscraper in Canary Wharf, which would have double the space of Britain's current tallest building, the Shard. With the space for thousands of extra employees it will become the bank's biggest presence in Europe, the Middle East and Africa (EMEA). It will also be the most expensive office building in London, and one of the largest in Europe."

"London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy. This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government's priority of economic growth has been a critical factor in helping us make this decision."

"Announced just days after the Budget, JP Morgan Chase claimed the new block would boost the UK's economy by £1 billion. The design of the building, including its height, is yet to be finalised, however JP Morgan Chase along with architects Foster + Partners have revealed a render of what the jumbo tower could look like (pictured above). Construction is expected to take place over the next six years, generating 7,800 jobs across construction and other local industries."

JP Morgan Chase plans a three million square-foot skyscraper in Canary Wharf with capacity for 12,000 employees. The tower would offer double the floor space of the Shard and become the bank's largest presence in Europe, the Middle East and Africa (EMEA). The project is projected to boost the UK's economy by £1 billion. Design and height are yet to be finalised; Foster + Partners have revealed a concept render. Construction is expected to take six years and generate 7,800 jobs across construction and related industries. The site is Riverside South, on land purchased in 2008 and previously development-suspended due to the financial crisis. The development would become one of Europe's largest and London's most expensive office buildings.

Read at Time Out London