Overview
- Arada acquired an 80% stake in the 47-acre Thameside West site from Keystone, marking its second London deal in two months.
- The company expects to commit up to £325 million, including about £225 million for land funded mainly from its own equity with additional UAE backing.
- The Foster + Partners masterplan targets at least 5,000 homes, with construction on the first 1,000 scheduled to start in 2027.
- Plans outlined for the scheme include 35% affordable housing, extensive green space and a potential new DLR station to enhance connectivity.
- Arada has engaged JPMorgan to advise on sukuk and convertible bonds as it builds toward a possible IPO around 2028, following its September purchase of UK developer Regal.