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The Shard, a project that is coming up in London, will be the tallest building in all of Europe once completed. The project is heavily financed by the state of Qatar. Many foreign investors are showing keen interest in the UK real estate markets following expectations of a boom here.

The project is a 310m high tower which will loom over the London skyline from its location on the South Bank of Thames. The tower will have 80 floors and will accommodate shared office and residential spaces. In addition, restaurants, shops and a hotel will make it a truly multipurpose building. These will be spread over a massive 600,000 square feet of space. The £2b project is expected to see culmination by 2013.

The Governor of Qatar Central Bank gave his approval to the project recently with his announcement that the UK real estate market is considered a lucrative place for investment for his nation, given the expectations for future growth here. Massive funds are being pumped into the project to make it a truly impressive undertaking. Qatar will own 80% of the building, with the remaining portion being owned by the developer.

The project designed by Renzo Piano Irvine Seller will be one of the first projects to start anew with a high tenancy rate, believe the developers. This is a likely expectation, as the recessive economy is bound to be well on the way to recovery by the time the Shard is completed.

The Director of Sellar Property Group refused to predict rents in the tower and said that pre-letting is not being actively sought for. However, two agreements have been signed for tenancy here by Shangri-La hotels and the Transport for London.