In a landmark move for international real estate, Sharjah-based developer Arada has solidified its presence in London with the acquisition of the Thameside West site, marking the largest property deal in the UK capital in nearly a decade. Valued at $3.3 billion, this acquisition underscores Arada’s ambitious expansion plans and its commitment to delivering new housing solutions in one of the world’s most dynamic cities. The Thameside West development promises to transform the Royal Docks area, adding thousands of homes and recreational spaces to accommodate an ever-growing population.
Key Details of the Acquisition
Arada has acquired an 80 percent stake in the 47-acre waterfront mixed-use development site, which was previously owned by private developer Keystone for approximately $296 million. This strategic investment is a significant milestone for Arada and reflects the company’s vision of becoming a major player in London’s real estate market.
Thameside West Development
Thameside West, with a total gross development value of $3.3 billion, is designed by the renowned firm Foster + Partners. The project is set to deliver at least 5,000 homes, with the first phase of construction for 1,000 homes projected to commence in 2027. This ambitious undertaking aims not only to provide essential housing but also to enhance the quality of life in the area with amenities and green spaces.
Arada’s Growth Strategy
This acquisition is Arada’s second major deal in London within a span of two months, following the acquisition of UK developer Regal for $355 million in September. Sheikh Sultan bin Ahmed Al Qasimi, the deputy ruler of Sharjah and chairman of Arada, emphasized the company’s commitment to expanding its London residential pipeline, aiming for a total of 30,000 units within the next three years. “Thameside West represents a unique opportunity to create a landmark riverside development,” he stated, highlighting the project’s potential impact on London’s housing landscape.
Industry Response
Arada group CEO Ahmed Alkhoshaibi articulated the rationale behind this investment during an interview with Arabian Business. “For developers who are able to take a long-term strategic approach, London still has unparalleled demand over property cycles,” he explained, adding that the city remains a global capital for finance, culture, and tourism. He described the Thameside West deal as “the biggest property transaction in London for at least the last six or seven years,” marking a pivotal step toward achieving the company’s ambitious goals.
London’s deputy mayor for housing, Tom Copley, expressed enthusiasm regarding Arada’s investment, saying, “This really is a fantastic example of how we can unlock London’s potential to deliver the homes our city so urgently needs.” With this substantial acquisition, Arada positions itself as a vital contributor to the housing solutions necessary in London, setting a precedent for future international investments in the UK property sector.