Developers of a planned $785.1 million tower in London are betting that the City of London business district will face an office capacity squeeze in coming years, driving up rents and lease prices. The so-called "Walkie-Talkie" tower, a 37-story concave skyscraper, is slated for completion in 2014. Developers Land Securities, Canary Wharf Group and Chinese and Qatari sovereign wealth funds are betting on a rising market.

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