Arada acquired 80 per cent of the 2 million square feet British Thameside West development, with a total value of Dh12.3 billion.

Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Arada, attended the signing of the contract and highlighted that Arada's expansion into the British property market follows its earlier acquisition of Regal and strengthens London's position as a leading hub for global development and investment.

Efforts are ongoing to meet targets and deliver the housing units on schedule. He pointed out that since the previous acquisition, the ambition has been to expand the residential project portfolio in London to reach 30,000 housing units over the next three years.

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Covering approximately 2 million square feet, Thameside West is one of Europe's largest and most strategically important urban renewal projects, with a total development value of Dh12.3 billion. The project also features the longest undeveloped waterfront in central London, providing unique views of Canary Wharf and the Greenwich Peninsula.

Located on the waterfront at the western end of the Royal Docks area in London, Thameside West will feature at least 5,000 homes, with half of the master plan area dedicated to green spaces and eco-friendly facilities, including a one-kilometre stretch of waterfront.

One of London's most strategically situated urban destinations, the project boasts an excellent network of transport links, combining air travel through its close proximity to the city's airport with motorways, railways, tunnels, river transport, and cable cars, making it easily accessible and well-connected from all directions.

Sheikh Sultan emphasised the importance of collaborating with strategic partners and demonstrating Arada's expertise in developing large integrated residential projects. This includes providing residents with essential facilities and services, as well as delivering high-quality residential units that meet international standards in the centre of the British capital.

The current site plan includes allocating 35 per cent of the housing as affordable to support and promote London's goal of providing accessible housing projects.

The company will seek approval for the detailed plan in the coming days, with the first phase of construction scheduled to commence in 2027 and 1,000 housing units to be built.

Arada's acquisition of Thameside West will increase its portfolio to 15,000 homes, supporting its aim to double the current number of projects in the British capital to 30,000 units within the next three years.

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