London's answer to Wall Street gains momentum as major firms sign on

Core Insights - Visa is relocating its European headquarters to London's financial district, signing a 15-year lease for 300,000 square feet at One Canada Square in Canary Wharf, with plans to move in summer 2028 [1] - JPMorgan is also investing in the area, planning to build a new 3 million square foot tower, while other major banks like HSBC, BBVA, Barclays, and Citibank are reaffirming their commitment to the district [2] Market Dynamics - Canary Wharf experienced high vacancy rates during the pandemic, reaching 18.5% in Q1 2025, but has since seen a decrease to 6% [3] - Factors contributing to the resurgence of Canary Wharf include improved access via the Elizabeth line railway, the development of multi-use spaces, and a limited construction pipeline leading to increased rents [4] - The CEO of Canary Wharf Group stated that the area is thriving, indicating a positive outlook for the district [5]