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Canary Wharf is a major business district in the London Borough of Tower Hamlets. Rivalling London's traditional financial centre, the City of London, Canary Wharf contains many of the United Kingdom's premier office spaces and tallest buildings. Canary Wharf is built on the site of the West India Docks on the Isle of Dogs. From 1802, the area was one of the busiest docks in the world. By the 1950s, the port industry began to decline, leading to the docks closing by 1980. The Canary Wharf of today began when Michael von Clemm, former chairman of Credit Suisse First Boston (CSFB), came up with the idea to convert Canary Wharf into back office. The first buildings were completed in 1991 which included One Canada Square that became the UK's tallest building and a powerful symbol of the regeneration of Docklands. Over 100,000 people are employed on the estate, around 25% of whom live in the surrounding five boroughs. With the opening of Jubilee Place shopping centre, Canary Wharf has become a shopping destination.
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