Deutsche Bank Reviews Canary Wharf Presence, Lease Expires in 2028, Amid U.S. Real Estate Headwinds

Deutsche Bank is reviewing its presence at Canary Wharf, a financial district in London, as it faces ongoing challenges in the commercial real estate market. The bank has noted that weaknesses in this sector are particularly evident in the U.S., where leasing activity is declining and vacancy rates are higher compared to Europe. Reports indicate that Deutsche Bank may vacate its Canary Wharf location, which it has occupied for nearly a decade, when its lease expires in 2028. This review comes amid broader economic concerns, including an unexpected contraction in the UK economy.