07:12 AM EDT, 09/15/2025 (MT Newswires) -- Citigroup's ( C ) cost for renovating its office building in London has reached $1.5 billion, Reuters reported Sunday citing a company executive.

The bill is approaching the 1.2 billion pounds ($1.63 billion) it cost the US bank to acquire the tower in 2019, according to the report.

The budget was increased to accommodate a larger workforce and upgrade additional space, Reuters reported, adding that the project is expected to be completed next year.

Citi did not immediately respond to MT Newswires' request for comment.

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