09:18 AM EDT, 09/15/2025 (MT Newswires) -- Barclays ( BCS ) is planning to spend at least $1 billion to renovate its regional headquarters in New York's Times Square, Bloomberg reported Monday, citing a person familiar with the matter.

Construction is set to begin in the middle of next year and expected to finish in 2030, the report said.

Barclays ( BCS ) is not the only bank renovating its office space in New York City, as JPMorgan Chase ( JPM ) is replacing its Park Avenue headquarters with a more modern building while Citigroup ( C ) completed the renovation of its building in Tribeca in 2020, according to Bloomberg.

Barclays ( BCS ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)