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London’s Luxury New Home Slump Stings Asian Developers

  • Tower at edge of Canary Wharf has yet to start construction
  • Buyers hard to find for some projects on Brexit, tax rules
London Luxury Property as Virus Hits Sales
Photographer: Hollie Adams/Bloomberg
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On the edge of London’s Canary Wharf district, the tallest residential skyscraper in western Europe was due to open this year. The Spire London’s hype gushed about the possibility of drones delivering food to residents in between their visits to the tower’s cinema and swimming pool.

Instead, all that’s rising from the boarded-up site owned by Chinese developer Greenland Holdings Corp. is weeds.