Acquisition of Major Stake in Large-Scale Development Project

Arada has acquired an 80% stake in the Thameside West development in London, a Dh12.3 billion project spanning approximately 2 million square feet. This marks a significant expansion for the company in the UK property market, following its earlier purchase of Regal. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Arada, emphasized the acquisition's role in strengthening London's position as a global hub for development and investment.

The Thameside West project, located on the waterfront of London's Royal Docks, is a large-scale urban renewal initiative. It encompasses a master plan for at least 5,000 homes, with a substantial portion dedicated to green spaces and eco-friendly features, including a one-kilometer waterfront. The development boasts excellent transport links, providing access to various modes of transportation.

The project includes the longest undeveloped waterfront in central London and aims to allocate 35% of the units as affordable housing. Arada plans to submit a detailed plan for approval, with the first construction phase scheduled to commence in 2027, delivering 1,000 homes. This acquisition increases Arada’s portfolio to 15,000 units, supporting its goal of expanding its London projects to 30,000 units within three years.