Modon, Broadgate REIT Launch Joint Venture for 2 Finsbury Avenue in London

Modon Holding has partnered with Broadgate REIT, owned by British Land and GIC, to develop the 2 Finsbury Avenue project in London's Broadgate area, marking Modon's first foray into the UK's prime real estate market. The development will encompass two high-rise towers, a 36-storey East Tower and a 21-storey West Tower, connected by a 12-storey podium featuring a 7,000 sq ft winter garden and public spaces. Construction is already underway, with completion expected in 2027, and the project has secured a pre-let agreement with Citadel for 261,000 sq ft of office space. The project emphasizes sustainability, aiming for a fully electric and smart-enabled building that contributes to energy efficiency and a net-zero carbon footprint. This collaboration reflects confidence in London's real estate market, as demand for premium office space is anticipated to exceed supply in the coming years. The venture represents a significant step for Modon in its international growth strategy, enhancing its portfolio with a high-quality asset in a competitive market.