Google continues to dominate the London real estate market – It bought office space for $ 1 billion.

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The tech giant Google continues to expand its real estate “empire” in London, buying an office space in the British capital for $ 1 billion, while it is still waiting for the completion of its new headquarters in the United Kingdom.

In particular, the company announced on Friday that it acquired the entire Central St. building. Giles, in the West End of London, where he already owned several floors, according to CNBC.

“Our investment in this stunning estate designed by Renzo Piano represents our continuing confidence in the office’s role as part of personal collaboration and conciliation,” said Ronan Harris, Google Vice President and CEO for the UK and Ireland , in a post on the company blog.

As Harris added, Google plans to renovate the office space within the next five years, creating partner countries, team workplaces as well as indoor outdoor workplaces.

The tech giant employs 6,400 people in the UK and is committed to creating offices for a total of 10,000 employees in the coming years. Its main hub is located in the recently upgraded King’s Cross neighborhood at the north end of the city center, where it has acquired many office space.

“Bridge of Arta” the new headquarters of the company

However, Google’s new headquarters in the United Kingdom, which is being developed behind King’s Cross Rail Station, is still under construction. The 11-storey “groundscraper” (extends along and not down) was designed by the famous Heatherwick studios and the Bjarke Ingels group. According to the plans, it will have a 25-meter pool, a 200-meter rooftop track and a large sports hall overlooking London. It will host up to 4,000 Google employees when completed.

It is noted that the development of the new headquarters of the country’s technology giant has been delayed for several years. Google initially hoped to install the building by 2016, but a series of problems postponed its launch date several years later. The original 1 1 billion ($ 1.2 billion) budget drawn up by Allford Hall Monaghan Morris was reportedly canceled by Google co-founder Larry Page because it was “too boring”.

A source familiar with the matter, who did not want to be named due to the sensitive nature of the project, told CNBC last April that Google plans to install the building by 2023-2024, a delay of almost a decade.

However, Google still owns several properties in the King’s Cross neighborhood which are in various stages of completion. Google eventually expects to employ about 7,000 people in the area.

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Source From: Capital

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