UAE-based real estate developer Arada is set to acquire an 80 percent stake in Thameside West, a waterfront mixed-use project located on the western end of London’s Royal Docks, from private developer Keystone.
This marks Arada’s second investment in the UK, building on its September purchase of a 75 percent stake in London developer Regal as part of its broader expansion strategy in the country.
According to the company, Arada will collaborate with the London Borough of Newham, the Greater London Authority, Transport for London and GLA Land and Property Limited to redevelop the former industrial site into a new urban district.
Masterplanned by Foster + Partners, Thameside West is expected to deliver at least 5,000 homes, with half of the land allocated to green spaces and a one-kilometre active waterfront.
Covering 47 acres, the development ranks among Europe’s largest regeneration schemes and carries a gross development value of AED12 billion ($3.3 billion).
Situated on central London’s longest remaining undeveloped riverfront, the project offers views towards Canary Wharf and the Greenwich Peninsula. The first phase will include 1,000 homes, with construction scheduled to begin in 2027.
“At the time of the Regal acquisition, we stated our intention to expand our London residential pipeline to 30,000 units within three years. We have already made significant progress towards that goal,” said Arada chairman Sheikh Sultan bin Ahmed Al Qasimi.
Tom Copley, London’s deputy mayor for housing and residential development, confirmed that 35 percent of the 5,000 homes will be classified as affordable as part of the creation of a new community in east London.
The acquisition increases Arada’s pipeline in London to 15,000 homes, the company added.
