Arada acquires majority stake in Dh12.3 billion Thameside West project

Dubai: Arada has acquired an 80 percent stake in the Thameside West development in London, a project valued at Dh12.3 billion and covering roughly 2 million square feet. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Arada, attended the contract-signing ceremony marking the company’s latest expansion in the UK property market.

Sheikh Sultan said the acquisition builds on Arada’s earlier purchase of Regal and strengthens London’s role as a global centre for development and investment. He said the company is working to meet project timelines and deliver housing units as planned. He added that since the previous acquisition, Arada has aimed to expand its London residential portfolio to 30,000 units within three years, and activity is already underway to reach that target.

Thameside West lies on the waterfront at the western edge of London’s Royal Docks. The master plan includes at least 5,000 homes, with about half the area dedicated to green spaces and eco-friendly features, including a one-kilometre waterfront. The development offers strong transport connectivity, with access to air travel, motorways, rail links, tunnels, river services and cable cars.

At approximately 2 million square feet, Thameside West is one of Europe’s largest urban renewal projects and includes the longest undeveloped waterfront in central London. The plan sets aside 35 percent of units as affordable housing, aligning with London’s broader housing objectives.

Arada will submit a detailed plan for approval in the coming days. The first construction phase is scheduled for 2027, delivering 1,000 homes. The acquisition increases Arada’s portfolio to 15,000 units and supports its goal of doubling its London projects to 30,000 within three years.