Canary Wharf developer warns on Brexit

13th May 2016

Canary Wharf chief executive Sir George Iacobescu warns that a Brexit would exacerbate a severe skills shortage in the construction industry, with 30% of the workforce likely to be lost. He said: “[Companies] will move part of their people. They will have no need to hire more people here, so by attrition they will compress. If the [rent] price goes down, there isn’t a huge amount of profits. Developers will think ten times about doing a build”.

Property Week (09/05/2016)