Is Titanic Quarter starting to sink..

BLOOMBERG is reporting that “Titanic Quarter Ltd. is reviewing a plan to build space for as many as 5,000 finance workers on Europe’s largest waterfront site, as the global credit crisis forces banks to slash jobs”. Building the 60,000sq metres of office space depends on tenants, and troubled Citigroup is the only business signed up so far. Nor are the apartments selling any more. “The industry has taken a few body blows,” said TQ chief exec Mike Smith. “We have to adapt our strategy to market conditions.” Doesn’t sound encouraging. (Hat-tip, Bobballs twittering.)