London Growth Plan: How the City’s Skyline is Set to Evolve by 2040

London’s skyline is on the brink of transformation, with the City of London Corporation revealing new computer-generated images (CGI) showing how the Square Mile will look once London growth plans are agreed and completed. These plans come ahead of the Corporation’s presence at Europe’s largest real estate conference, MIPIM, where London will be showcased as a prime destination for global investment and development.

The images reflect a decade of planned growth, as the City aims to accommodate increasing demand for premium office space while balancing heritage conservation. Recent research highlights the need for at least 1.2 million square metres of new office space by 2040 to keep the capital competitive on the global stage. At the same time, sustainable office buildings are becoming a rare commodity, as availability in new high-quality office developments has reportedly dropped to just 0.5% in the City of London.

One of the key areas of development is the City Cluster, where a collection of high-rise buildings will drive economic expansion and provide office space for tens of thousands of new jobs. This is in keeping with the broader London Growth Plan, which was released last week by the Mayor City, setting out strategies to ensure London remains a world-class centre for business, finance, and culture.

The demand for premium workspaces is backed by rising employment figures. City worker numbers are rapidly increasing, with estimates suggesting the workforce will grow from 687,000 to well over 700,000 by 2040. The financial powerhouse that is the Square Mile contributes over £97 billion annually to the UK economy and accounts for one in five financial services jobs in Britain. It also generates over £1.2 billion in business rates, making it a crucial pillar of the country’s economic future.

Beyond office spaces, the City is positioning itself as an exciting, inclusive destination, offering world-class culture, entertainment, and hospitality. Through its Destination City strategy, the Corporation aims to attract not just businesses and professionals, but also millions of visitors looking to explore its unique blend of history, arts, open spaces, and dining experiences.

Chris Hayward, Policy Chairman of the City of London Corporation, emphasised the importance of growth while maintaining London’s historic character:

“The City of London is the greatest city in the world. A global economic powerhouse, an ancient city, and a centre of collaboration and innovation for the hundreds of thousands of people who work here every day. These new images clearly illustrate the ever-changing nature of London’s incredible skyline and that the Square Mile’s real estate sector is robust and thriving.

“Delivering growth and attracting new businesses to a dynamic and thriving City, whilst striking a balance with heritage conservation, is vital for the Square Mile’s future. Our growth strategy, Destination City, is maximising the Square Mile’s appeal for workers and employers by enabling developers and investors to deliver these new buildings, whilst offering a first-class culture, leisure, and hospitality scene.”

As London continues to evolve, the focus remains on sustainability, accessibility, and innovation. The upcoming years will define how the City maintains its financial legacy with a forward-thinking, people-first urban strategy.

For further insights on London’s future growth, visit EyeOnLondon City.

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