JPMorgan Chase & Co. (JPM) is planning to build a new office tower at Canary Wharf, the trade and  financial district in London, England. The bank said that it would be a global workplace that could house more than 10,000 employees. This is the second major real estate project by the global bank. It opened its new state of the art global headquarters in Park Avenue office in Manhattan, New York City, this October.

On Thursday, JPMorgan Chase said that it would construct a three million square feet UK headquarters in Riverside South, Canary Wharf, London and described it as a future “world-class workplace for up to 12,000 employees.”

JPMorgan also said that construction would boost the local economy and could contribute up to £9.9 billion, which is equivalent to about $13 billion over six years.

JPMorgan Chase said that they have to receive the necessary approvals and agreements. If approved, the building would be among the “largest and most sophisticated” ones in Europe.

The global bank has chosen British architectural firm Foster plus partners to be in charge of the project. This firm had also designed the new headquarters of the banking giant in Park Avenue, NYC.

JPMorgan Chase CEO Jamie Dimon is a firm believer in work from office. This could be one of the reasons why the bank is investing in office space that will also nurture its employees with facilities that support the “physical and emotional well-being” of its employees, according to a press release from the bank.

Jamie Dimon, who is the chairman and CEO of JPMorgan Chase, also said, “London has been a trading and financial hub for more than a thousand years. Maintaining it as a vibrant place for finance and business is critical for the health of the UK economy.“

He added that the new building would represent a lasting commitment by the bank to London.