Abu Dhabi’s Modon Holding has announced a groundbreaking entry into London’s prime real estate market through a 50:50 joint venture with British Land’s Broadgate REIT and GIC. The partnership will develop 2 Finsbury Avenue, a 750,000 sq ft landmark project in the heart of the City of London.
A New Icon in London
The 2 Finsbury Avenue development, located within the vibrant Broadgate campus, will feature:
- A 36-storey East Tower
- A 21-storey West Tower
- A 12-storey podium connecting the towers with a 7,000 sq ft winter garden, green spaces, and leisure areas
The building is already 33% pre-let, with hedge fund firm Citadel and Citadel Securities leasing 261,000 sq ft, with an option for an additional 121,000 sq ft. Construction, led by Sir Robert McAlpine, is set to complete in 2027, addressing London’s supply-constrained market.
Sustainability at Its Core
The development integrates sustainability with smart-enabled, all-electric systems to ensure energy efficiency and achieve a net zero carbon footprint. It exemplifies a forward-thinking approach to urban architecture.
Strategic International Growth
This venture aligns with Modon’s vision to diversify its portfolio and expand globally. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, remarked:
“Partnering with Broadgate REIT supports our international growth strategy and reinforces our commitment to delivering long-term sustainable value for shareholders.”
British Land CEO Simon Carter echoed the sentiment, highlighting the partnership as a “vote of confidence” for Broadgate and London’s commercial real estate market.