Construction of latest Canary Wharf tower could begin before the end of 2013
Work could begin on Canary Wharf's first residential development later this year.
The Newfoundland scheme is currently going through the planning process at Tower Hamlets Council and Canary Wharf Group has said, if successful, construction would start within weeks.
In the parent company Songbird's financial report for the first six months of 2013, it said: "In June, the Group submitted a planning application for a stunning new development at Newfoundland.
"The fully residential tower, designed by Horden Cherry Lee Architects, will contain around 550 luxury apartments and, if the application is successful, a start on site is anticipated by the end of this year."
If approved by Tower Hamlets' strategic development committee, Newfoundland will be the first residential property on the Canary Wharf estate.
It had previously looked at building a hotel on the site, which is at the south-west of the estate.
The residential block will be 58 storeys high.