Ballymore and Penta secure £179.5m loan for Canary Wharf housing project

A joint venture between Ballymore and Penta Real Estate has secured a £179.5m financing facility from Barclays and Homes England to support the development of a 52-storey residential tower at Cuba Street, adjacent to Canary Wharf. The project will deliver 434 homes, comprising both private and affordable units, alongside amenities including communal spaces, a rooftop gym, and a new public park, the largest on the Isle of Dogs in more than 30 years. The funding marks a key step forward for the JV, which was formed late last year and is also progressing a separate residential scheme at Nine Elms. The deal highlights continued lender support for large-scale London residential developments, with the partners positioning the project as part of a broader effort to regenerate the area and deliver high-quality housing.

Building (17/03/2026)   Housing Today (17/03/2026)   Property Week (17/03/2026)