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Canary Wharf continues to sprout gleaming new towers at a frightening pace and there are more planned, with firms signed up and in a rush to move to the former docklands of East London.

The Citigroup centre, to the south east of the main tower, is partially open for business but it will be early 2002 before its new 42 floor, Cesar Pelli designed tower is complete. A similar sized Norman Foster creation alongside is racing to finish first for its HSBC tenants.

At the moment 6.5M sq ft of office and retail accommodation is under construction in the area to add to the 4.8M sq ft built before the property crash of the early 1990s.

This includes five new buildings on the former Heron Quay plus more to the east of the main tower. By the end of the year 35,000 people will work in the area against a target of 50,000 in 2002 and 90,000 in five years, helped not least by excellent transport to the area via the Jubilee Line Extension.

Canary Wharf Group, the company which designs, finances, project manages and maintains the estate, entered the FTSE100 last week.

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