Citi is set to invest $100 million in the refurbishment of its iconic skyscraper in Canary Wharf, signaling confidence in the UK’s future in a post-Brexit landscape and adapting to evolving flexible work arrangements following the pandemic.
The updated tower, designed to accommodate 9,000 employees, will feature diverse collaborative workspaces and well-being areas to enhance employee comfort and productivity.
David Livingstone, Citi’s CEO for EMEA, stated, “Our goal is to create an environmentally sustainable, innovative, and engaging work environment that integrates modern design, cutting-edge technology, and best practices for both employees and clients. This investment in Citi Tower underscores our commitment to our workforce and the expanding business landscape in the UK and EMEA region.”
Citi acquired the 42-story building at 25 Canada Square in 2019. The decision to refurbish rather than demolish the existing structure is projected to prevent the release of approximately 100,000 tonnes of embodied carbon, equivalent to the annual emissions from nearly 22,000 family cars. The upgrades will also enhance energy efficiency, anticipating a reduction in electricity consumption and a 20% decrease in water usage.
Embracing a hybrid work model, Citi allows employees to work from home up to two days a week while spending three days in the office. Livingstone highlights that the renovation of Citi Tower will reflect these shifting work dynamics, emphasizing shared spaces that foster collaboration among colleagues.
“We are a business fueled by energy and creativity, and we excel at bringing people together. Our newly revitalized headquarters in EMEA will be designed to optimize collaborative workspaces, backed by technology that facilitates flexible and agile working,” he noted.
The renovation is expected to be completed by 2025.