Four Quatari banks have agreed to fund the construction of the Renzo Piano's London Bridge skyscraper

Funding to build the 310m high Shard of Glass has been secured, the team behind the project confirmed today.

Shard of Glass

Four Quatari banks, led by investment bank Qinvest, have agreed to bankroll the project, which is being developed by Sellar Property.

Mace is expected to build the structure for a fixed price of around £350m after earlier negotiations to build the scheme under a construction management route hit a wall over risk concerns to the client.

Qinvest chief executive officer Abdul Latif Almeer said: "Our investment in this £2 billion development not only reflects our admiration for what has already been achieved in getting the scheme to its present level but also underpins out confidence in the London commercial real estate market."