Arada is taking over control of Thameside West from private developer Keystone, representing its second major investment in the London residential market, following its purchase of Regal in September.
Thameside West is a mixed-use waterfront development at the western end of London鈥檚 Royal Docks. The masterplan by Foster & Partners shows at least 5,000 residential apartments spread over 47 acres along a kilometre of waterfront. The gross development value (GDV) is put at 拢2.5bn.
Already awarded planning consent, Thameside West will see 1,000 homes delivered in the first stage of the project, with construction set to begin in 2027.
As 80% shareholder Arada will work with the London Borough of Newham, Greater London Authority (GLA) and Transport for London to transform this former industrial site into a new neighbourhood. GLA Land & Property (GLAP) is the other landowner on the project
Arada was founded in 2017 by Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group, and Prince Khaled bin Alwaleed bin Talal Alsaud, chairman of KBW Investments.
Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: 鈥淥ur entry into this market was grounded in our unwavering faith in London and its attractiveness as one of the world鈥檚 leading capital cities.聽 At the time of the Regal acquisition, we articulated our ambition to scale our London residential pipeline to 30,000 units over the next three years, and we have swiftly delivered on growing that pipeline. Thameside West represents a unique opportunity to create a landmark riverside development, and we look forward to working with our partners and utilising our long-standing track record in large-scale, amenity rich residential schemes to unlock the delivery of new housing for London.鈥�
Architect Lord Norman Foster of Thamesbank said: 鈥淭hameside West is a place where architecture, nature and infrastructure come together in balance. The stepped design ensures exceptional views from every building, while the integration of air, road, rail, river and tunnel links makes this one of the most connected sites in London. Half the master plan is dedicated to green space, including more than a thousand trees and a kilometre of active waterfront, creating a setting that is both restorative and dynamic. Our goal is to build a truly inclusive community - one that brings opportunity, sustainability and vitality to the heart of London.鈥�
Keystone chairman Giorgio Laurenti said: 鈥淥ne of the most significant development opportunities in Greater London, Thameside West is a transformational destination designed to deliver thousands of new homes while generating substantial economic and social value for the wider community. With Arada, we have found an ideal and trusted partner, with tried-and-tested experience in large-scale urban mixed-use districts, to work with as we move closer to bringing this landmark project to life.鈥�
Tom Copley, deputy mayor of London for housing and residential development, said: 鈥淚 am delighted that Arada is investing in London to transform Thameside West 鈥� one of the key sites within the Royal Docks. This really is a fantastic example of how we can unlock London鈥檚 potential to deliver the homes our city so urgently needs.
聽鈥淲orking together we will be able to deliver at least 5,000 new homes, 35% of which will be affordable as part of a thriving new neighbourhood in the heart of this historic part of East London.鈥�
Got a story? Email news@theconstructionindex.co.uk
