UAE real estate developer and investor Aldar Properties has acquired UK developer London Square in its first foray outside the MENA region.
The deal, valued at AED 1.07 bn (€267.1 mln), aligns with Aldar's expansion strategy into key international markets.
Established in 2010, London Square has become a leading developer in the UK, building a pipeline valued at over £2bn (€2.3 bn). They have successfully delivered over 3,500 homes and have a further 930 under construction, representing a value of £425 mln (€493.6 mln).
London Square's expertise lies in regenerating former industrial sites, transforming them into thriving communities. One such project is the flagship London Square Nine Elms development, situated near the iconic Battersea Power Station. This project boasts over 750 luxury homes, affordable housing options, rental apartments, and a significant commercial and retail space, contributing to central London’s revitalization.
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, and is a testament to the company’s management team, governance framework, and business model which has consistently delivered strong performance.’
Adam Lawrence, founder and CEO of London Square added: ‘Aldar is an exemplary company with an unrivalled reputation and their strength and breadth of knowledge and experience will enable London Square to flourish and extend its presence across Greater London and the Southeast. Since establishing London Square in 2010, the company has enjoyed significant organic growth, with the support of Ares Management funds for the past nine years. We would like to thank Ares Management for their contribution to the success of London Square. Becoming part of Aldar is the beginning of an exciting new chapter for the future of London Square.’
London Square's diverse business segments will enable Aldar to gain exposure to new and strategic business areas.
London Square Developments specializes in high-quality homes and new communities within Greater London; London Square Works focuses on developing office, retail, and leisure space; London Square Living addresses the need for quality BTR homes in London; while housing provider Square Roots develops well-designed social rent and affordable homes across the capital.
This acquisition helps Aldar accelerate its growth by tapping into the UK market, known for its resilience and strong investor appeal, while at the same time diversifying its revenue streams and reduces dependence on the MENA region.
The deal will provide strong opportunities for synergy creation, knowledge sharing, cross-border sales and investment flow, and enhancing Aldar’s brand recognition internationally.