Dubai-based developer Arada has acquired a 75% stake in residential-led mixed-use developer Regal.
As part of the transaction, Arada has committed an initial £500m of capital to accelerate the delivery of Regal’s existing 10,000-unit residential pipeline in London, with an ambition to more than triple this over the next three years.
The deal marks Arada’s entry into the UK market, which is the second international market it has expanded into.
Sheikh Sultan bin Ahmed Al Qasimi, chairman of Arada, said: “London is one of the world’s leading cities, and our expansion into this market represents a strategic step for Arada in response to the strong demand for residential space. This investment provides a significant opportunity to accelerate the delivery of new residential assets in London, fully aligned with Arada’s long-term strategy to develop high quality projects that enable people to live healthier and more prosperous lives.”
Ahmed Alkhoshaibi, group chief executive of Arada, added: “We have been impressed by the platform the Regal team has built, as well as the inspirational schemes they are delivering, which reflect our own, long-term focus on experience, amenity and the customer. Leveraging Arada’s extensive design and placemaking capabilities, delivery track record and capital resources, we are well placed to support Regal’s evolution and unlock new opportunities for growth.”
Jonathan Seal, chief executive of Regal, said: “With nearly 30 years of successful partnerships behind us, Regal has built a reputation for aligning with businesses that share our long-term vision and deep understanding of the real estate industry. It is in this spirit that we have carefully chosen Arada as our partner, a business that shares our values and confidence in the London residential market and our management team’s ambition to continue growing market share and shaping the London skyline.”
Rothschild & Co acted as sole financial and strategic adviser to Regal.
