Skip to content Skip to Search
Skip navigation

UAE’s Aldar buys British developer for $291m

Aldar plans to leverage its balance sheet to support British developer's London Square’s strategy of developing prime London sites Wam
Aldar plans to leverage its balance sheet to support British developer's London Square’s strategy of developing prime London sites

Abu Dhabi-listed Aldar Properties has acquired London-based developer London Square in a deal worth AED1.07 billion ($291.4 million).

The transaction marks Aldar’s first acquisition outside the Mena region.

The Abu Dhabi developer plans to leverage its expertise and balance sheet to support London Square’s land acquisition strategy to develop larger prime central London sites.

Additionally, the transaction is expected to positively impact sales, given the potential for capitalising on cross-selling across both companies’ global customer networks.

Aldar’s development sales reached AED19.4 billion in the first nine months of 2023.

Talal Al Dhiyebi, group CEO of Aldar Properties, said: “Our recently announced international expansion strategy centres on exploring opportunities to acquire or partner with established operating platforms in our target markets.”

“The acquisition of London Square represents our first market entry outside of the region,” he added.

Since its establishment in 2010, London Square has a development pipeline worth over £2 billion ($2.53 billion).

London Square has completed over 3,500 homes to date and has a pipeline of 930 homes under construction, valued at £425 million.

Latest articles

Adult, Male, Man

UAE to invest in Turkey’s economic sectors says minister

The UAE is willing to invest across numerous sectors in Turkey, said Emirati energy and infrastructure minister Suhail Al Mazrouei. The Gulf state is exploring opportunities in the energy, agriculture, transportation, tourism and other sectors, state-run Anadolu Agency (AA) news agency reported, citing the minister on the sidelines of the St. Petersburg International Economic Forum. […]

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

Rothschild Saudi

Edmond de Rothschild to run funding vehicle for Saudi projects

The Edmond de Rothschild Group is establishing a funding vehicle for infrastructure projects in Saudi Arabia along with the local firm SNB Capital, as part of a deal in which the Swiss investment bank will set up offices in the country.  Saudi Arabia’s massive economic diversification programme has run into financial obstacles as it faces […]

2KEY8G1 Emirates Airline Airbus A380 aircraft landing. Aerial view of Emirates Airlines A380-800 airplane. An Emirates plane coming in to land at LAX; a spokesperson for Emirates said the contraventions were for safety reasons

US fines Emirates for operating in prohibited airspace

Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […]