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Is Greenland pulling back in London, too?

Firm behind Aecom's stalled Docklands tower mulls next move reported Building, a construction publication in the UK, on 12/13/18.

That's a proposed 67-story, 900-unit tower known as Spire London, the tallest planned in Docklands, a east/southeast waterfront zone of London, to be developed by Greenland Group, in association with the U.S. company Aecom, part of a global partnership announced last June.

Though it was to be Aecom's first big job in the UK, Greenland says it's reassessing, according to a spokesperson: “The residential sector in London has changed significantly since Spire London was conceived in 2014. The purpose of the review has been to ensure that our development reflects those changes and remains at the forefront of the market.”

It doesn't seem, at this moment, that Greenland is ending the project, but rather looking at the configuration. But, as with Pacific Park in Brooklyn, and Metropolis in Los Angeles, the Shanghai-based firm is behaving prudently, selling off parcels and hedging its risk.

In other words, as has been clear for a while, Greenland no longer has deep pockets.

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