Dubai debt won't affect London's Shard of Glass

The London Bridge Tower

There have been concerns in recent days that Dubai's debt crisis could affect the construction of London's Shard of Glass skyscraper, however speaking at a media update Qatar's central bank governor has said the emirate is 100 percent committed to the project.

Dispelling the rumours that the London Bridge Quarter venture had been affected by Dubai's property-related woes, Sheikh Abdulla Bin Saoud Al-Thani said he was excited by the rate of construction on 'The Shard' and reiterated the state's confidence in London's economic future.

"The State of Qatar is firmly behind these projects which reflect our belief that the United Kingdom continues to offer an attractive, stable and robust economic environment," Sheikh Al-Thani said.

"We are confident that The Shard will become a landmark on the London skyline and a symbol of the close ties between Qatar and the United Kingdom," he added.

Qatar's backing of The Shard makes it the emirate's largest-ever investment in Britain.

The Shard

The Shard of Glass, part of the London Bridge Quarter development scheme, has a completion value of GBP£2 billion and is set to be completed in the summer of 2012.

The super-skyscraper, when finished, will be the tallest building in the United Kingdom and the EU. It was destined to be the tallest building on the continent, but since construction began several Russian skyscrapers have been green-lit that will surpass it, including Gazprom's Okhta Centre.

The 1,017ft (310m) skyscraper will stand adjacent to London's busiest strategic transport hub at London Bridge, and will include 600,000ft2 of office space, hotel and luxury residential accommodation combined to form a 'vertical city'. Some 400,000 square feet of office space remains unlet although official marketing is yet to begin.

Designed by Renzo Piano, the tower will offer mid-level public viewing galleries of the capital from approximately the same height as the London Eye. Views from the top have been described as being 'previously unattainable both in the UK and Europe'.

The tower, officially called The London Bridge Tower but dubbed 'The Shard' by designer Piano, has been liked to a 'shard of glass' due to its slender, spire-like form, that will no doubt be a unique addition to the London skyline.

The London Bridge Quarter development scheme will also see improvements made to the London Bridge station and the surrounding area. A new concourse, a public piazza and even a new museum are also expected to be built.

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