In a landmark move, Aldar Properties, the leading UAE developer, has successfully completed the acquisition of London Square, a prominent UK developer, marking its second significant foreign venture. This Dh1.07 billion deal (equivalent to 230 million pounds) underscores Aldar’s commitment to accelerating growth, diversifying revenue streams, and seizing cross-selling opportunities.

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Aldar’s strategic decision aligns with its focus on expanding direct interests in mature overseas markets, with the vibrant and dynamic London property market being a key target. The move provides Aldar with a meaningful foothold in London, renowned for its resilience and enduring appeal to both local and international investors.

Talal Al Dhiyebi, Group CEO of Aldar Properties, emphasized the importance of this international expansion strategy, stating, “Our recently announced international expansion strategy centers on exploring opportunities to acquire or partner with established operating platforms in our target markets.”

London Square, supported by Ares Management and founded in 2010, boasts a substantial portfolio with over two billion pounds in development plans. Having completed projects valued at 425 million pounds, including the iconic Nine Elms development near Battersea Power Station, London Square has 3,500 homes completed and 930 under construction.

The Nine Elms development, located at the heart of central London’s largest regeneration area, features luxury residences, affordable housing, rental apartments, and commercial and retail spaces. Aldar anticipates a positive impact on its sales through cross-selling opportunities across both companies’ diverse international customer networks.

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Adam Lawrence, founder and Chief Executive of London Square, expressed excitement about the acquisition’s potential impact on addressing the UK housing shortage, stating, “We look forward to playing a leading role in tackling the (UK) housing shortage by providing more much-needed homes in the capital and surrounding areas where there is a continuing lack of supply.”

With Aldar’s robust supply pipeline, recent project launches in Ras Al Khaimah and Dubai, and a prosperous year marked by strategic investments, the acquisition of London Square solidifies Aldar Properties’ position as a global real estate powerhouse.