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Why has Indus Towers Limited (INDUSTOWER) been underperforming recently ✌️【Risk Avoidance】✌️ Expert predictions on stock market movements with real-time data, ensuring you can make quick decisions and capture market opportunities. The City of London financial district has approved plans for a 73-floor skyscraper that will match in height Western Europe’stallest towera mile to the south, in a sign that city planners are still betting on the office market despite the current downturn.

Why has Indus Towers Limited (INDUSTOWER) been underperforming recently ✌️【Risk Avoidance】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. The proposed 309.6-meter (1,015.75-foot) tower, which will be exactly the same height as London’s Shard, was given the go-ahead after a previously approved plan was revised “to better respond to post-pandemic office needs,” the City of London local authority said on Friday.

Officially called 1 Undershaft, the tower was initially granted approval at a slightly smaller height in 2016 but never started.

Why has Indus Towers Limited (INDUSTOWER) been underperforming recently ✌️【Risk Avoidance】✌️ Free real-time global stock trend updates to help you capture market movements and make better investment decisions. The proposed building, which investor Aroland has been trying to get off the ground for years, will require the demolition of an existing smaller tower and has attracted criticism from conservation groups.

Historic England said in a consultation response to City planners in February that the alterations had not altered its impact and said it would “seriously degrade” the public realm around it.

Why has Indus Towers Limited (INDUSTOWER) been underperforming recently ✌️【Risk Avoidance】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. The tower, if built, would provide 154,156 square meters (around 1.66 million square feet) of office space, areas for children’s education on the 72nd and 73rd floors and a publicly accessible garden.

London’s office market has been hit hard by higher borrowing costs and more home working post-pandemic, although premium space has remained in demand.

Very few major London office properties have been sold this year. Investors Nuveen and Brookfield are currently trying to sell London office towers, in a major test for investor appetite.

Why has Indus Towers Limited (INDUSTOWER) been underperforming recently ✌️【Risk Avoidance】✌️ Free break-even services and stock analysis to help you recover quickly from losses and increase your chances of making profitable investments. The supply of new space to let in London has slowed since the pandemic. However, office construction in the City has recently bucked the trend, with new starts up 7% between April and September this year, compared to falls in every other central London market surveyed by Deloitte.

Critics say London’s skyline has become increasingly cluttered by generic glass-and-metal towers that dwarf historic landmarks, especially in the City of London, home to St. Paul’s Cathedral.

“As another, much needed office development gets approved in the City of London, it speaks to the confidence that global investors have in the London real estate market and the UK economy more widely,” said Shravan Joshi, chairman of the City of London Corporation’s Planning and Transportation Committee.

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