Dubai developer acquires £2.5bn Royal Docks site

The Foster + Companions designed undertaking will ship a minimum of 5,000 houses, with half of the 47-acre web site devoted to inexperienced area and a kilometre of lively waterfront.

It occupies central London’s longest stretch of undeveloped riverfront, with views throughout Canary Wharf and Greenwich Peninsula.

Already awarded consent, Thameside West will see 1,000 houses delivered within the first stage of the undertaking, with building set to start in 2027.

The acquisition from personal developer Keystone represents follows Arada’s buy of native developer Regal in September.

Arada will work alongside the London Borough of Newham, Better London Authority and Transport for London to rework this former industrial web site into a brand new neighbourhood.

His Highness Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada, mentioned: “Our entry into this market was grounded in our unwavering religion in London and its attractiveness as one of many world’s main capital cities.

“On the time of the Regal acquisition, we articulated our ambition to scale our London residential pipeline to 30,000 models over the following three years, and we have now swiftly delivered on rising that pipeline. Thameside West represents a singular alternative to create a landmark riverside growth, and we look ahead to working with our companions and utilising our long-standing monitor document in large-scale, amenity wealthy residential schemes to unlock the supply of latest housing for London.”

The acquisition of Thameside West will increase Arada’s London growth pipeline to fifteen,000 houses.