A Dubai-based developer has made a second large-scale investment in the capital’s residential market, with a major £2.5 billion stake in a London scheme.
Arada has agreed to an 80 per cent stake in Thameside West, a waterfront mixed-use development located at the western end of London’s Royal Docks.
The acquisition, from private developer Keystone, follows its September purchase of developer Regal, where Arada committed £500 million in capital to acquire and accelerate the delivery of its 150-strong business, scaling up its residential pipeline over the next two years.
The £2.5 billion Gross Development Value (GDV) Thameside West project, master-planned by Foster + Partners, will deliver 5,000 homes, with 35 per cent affordable, over 47 acres half of which will be green space and a kilometre, waterfront.
The site, offering views of Canary Wharf and Greenwich Peninsula, is said to be one of Europe’s largest regeneration projects.
The first phase, consisting of 1,000 homes, is set to begin construction in 2027.
It will be completed alongside the Greater London Authority, Transport for London, and the London Borough of Newham, with the former industrial site, which is already well-connected by Silvertown Tunnel, Custom House station, City Airport, and the IFS Cable Car, potentially seeing the delivery of a new DLR station.
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Arada chairman, Sheikh Sultan bin Ahmed Al Qasimi, said: “At the time of the Regal acquisition, we articulated our ambition to scale our London residential pipeline to 30,000 units over the next three years, and we have swiftly delivered on growing that pipeline.
“Thameside West represents a unique opportunity to create a landmark riverside development, and we look forward to working with our partners and utilising our long-standing track record in large-scale, amenity rich residential schemes to unlock the delivery of new housing for London.”
The acquisition boosts Arada’s London pipeline to 15,000 homes, including 10,000 from Regal, spanning residential, purpose-built student accommodation, and town centre regeneration projects.
This includes the recently approved Orchard Wharf in Tower Hamlets, which will deliver 1,365 student beds, 200 affordable homes, and a safeguarded wharf on the River Thames.
Arada’s UK investments mark its second international expansion after entering Australia in 2024, with over £19 billion in projects and 42,000 units globally, of which more than 10,000 homes have already been delivered.
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