Simon Halabi is poised to sell his one-third stake in the troubled Shard of Glass skyscraper. The Times

Qatari investment funds are understood to have agreed to pay about £30m cash for Halabi's stake in the site over London Bridge station, where there are plans for a 310m (1,016ft) skyscraper worth £1.4bn if built and fully let.

The final terms of Halabi's sale are expected to be similar to those of a deal struck last week between the same Qatari funds to buy another one-third stake in the Shard scheme from CLS Holdings, a quoted property company that was forced to book a £25m loss on its investment.

CLS's last gross value for its one-third stake in the Shard was £131m, based on a June market estimation.