Arada, a real estate developer from the United Arab Emirates, announced on Monday its acquisition of a 75% stake in British developer Regal. This move marks Arada’s second international expansion, following its entry into the Australian market last year.
The UAE-based company has initially invested 2.5 billion dirhams ($680.70 million) to purchase the privately owned Regal, which boasts a development pipeline of 10,000 units across 11 projects. Arada stated that the UK firm will be rebranded as Arada London.
“London stands as one of the globe’s top cities, and our entry into this market signifies a strategic move for Arada, addressing the high demand for residential properties,” commented Arada Chairman Sheikh Sultan bin Ahmed Al Qasimi.
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Arada aims to expand the current UK development pipeline threefold within the next three years.
Gulf real estate developers have experienced robust growth, fueled by increasing demand and heightened investment as regional oil and gas producers enhance their economic diversification efforts.
Other UAE developers, such as Damac, Aldar, and Modon, have also initiated UK property development projects through subsidiaries or joint ventures to diversify their operations.
Established in 2017 by Al Qasimi and Prince Khaled bin Alwaleed bin Talal Al Saud, the son of Saudi billionaire Prince Alwaleed Bin Talal, Arada has projects in the UAE and Australia valued over 95 billion dirhams.
