UAE's Arada Acquires 80% Stake in London's Thameside West Development

ABU DHABI: United Arab Emirates real estate developer Arada, backed by Gulf royals, has announced its acquisition of an 80% stake in the Thameside West mixed-use development in London. The acquisition, following the launch of Arada's UK business in September, is a significant step in the company's international expansion strategy.

Arada will take an 80% stake in the riverfront development in London's east, which has a gross development value of £2.5 billion ($3.29 billion) and plans to deliver at least 5,000 homes. The first phase of the project is expected to deliver 1,000 homes, with construction expected to begin in 2027.

"Our entry into this market was grounded in our unwavering faith in London and its attractiveness as one of the world's leading capital cities," said Arada Chairman Sultan bin Ahmed Al Qasimi, a member of Sharjah emirate's ruling family. The acquisition aligns with Arada's broader strategy to triple its London residential pipeline to 30,000 properties over the next three years.

Gulf property developers have seen strong growth, driven by rising demand and increased investment as regional oil and gas producers accelerate diversification strategies. Several Gulf developers have launched development arms in Britain through subsidiaries or joint ventures to diversify their operations and tap into the robust UK property market.

Arada's acquisition of Thameside West increases its London development pipeline to 15,000 homes, solidifying its position as a major player in the UK real estate market. The project is expected to create a vibrant, mixed-use community with a focus on sustainable living and high-quality residential and commercial spaces.