Citi on Wednesday announced its intent to transform its London headquarters, home to its UK and EMEA operations.
The refurbishment of the iconic Citi Tower in Canary Wharf will create a stunning workplace for the future, incorporating the latest technology and the highest standards of environmental design, Citi said.
“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,” said 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 for £1.2 bilion.
Citi Tower will be refurbished to reflect the changing nature of work, 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,” said Livingstone. “Our rejuvenated EMEA headquarters will be designed to maximise collaborative work-spaces, supported by technology, to enable us to work flexibly and with maximum agility.”
”The environmental impact of the new Citi Tower has been central to the planning and design. 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%,” said Citi.
Citi Tower is among the largest workplace refurbishment projects in Europe and the bank will be applying for the project to become the UK’s tallest office refurbishment project to gain high-level LEED, WELL and BREEAM certifications.
Yasmin Al Ani Spence, Director at architectural firm WilkinsonEyre, lead designer of the project, said: “Citi challenged us to make a 20-year-old tower compatible with its vision for the future of work. Our architectural interventions will hopefully inspire both staff and visitors to Citi. Well-being has been put at the heart of the project by introducing innovative collaboration spaces, enhanced connection, state-of-the-art amenities and impactful access to greenery, promoting biophilia. The internal layouts are anchored around a number of vertical villages, which break down the traditional floorplates and encourage inter-connection between levels, creating a stimulating and exciting place to work.”
The refurbishment will also create more public space in Canary Wharf. The new ground floor will enable visitors to traverse between Canada Square and Jubilee Park, two of the significant green spaces within the estate.
Shobi Khan, CEO of Canary Wharf Group (CWG) said: “I am delighted Citi is making a long-term commitment to Canary Wharf as a dynamic and sustainable urban environment in which to work, live and play. With our commitment to sustainability and our track record as the UK’s largest developer of sustainable space, it is exciting to see Citi’s initiative to transformation its site.”
The renovation is expected to be completed in 2025.