Aldar Properties Expands Global Footprint with Acquisition of London Square

London Square, the UK-based developer, has been fully acquired by Aldar, a developer from the UAE, marking Aldar's second significant foreign acquisition. The deal's enterprise value stands at Dh1.07 billion, equivalent to 230 million pounds. Aldar stated that the acquisition is aimed at accelerating growth, diversifying revenue streams, unlocking synergies, and capitalizing on cross-selling opportunities.

In an official statement, the Abu Dhabi mega-developer expressed its intention to expand its direct interests in mature overseas markets, with a specific focus on the UK and London. Aldar sees this move as a strategic step to establish a meaningful foothold in the diverse and dynamic London property market, renowned for its resilience and enduring appeal to both local and international investors.

This acquisition follows Aldar's successful venture with another Abu Dhabi investment firm, ADQ, in acquiring Sodic, an Egyptian developer specializing in high-end residential communities, the previous year. Aldar, experiencing a prosperous year, has been actively investing in various transactions and launches outside of Abu Dhabi, including a new project in Ras Al Khaimah following a successful launch in Dubai, where initial releases sold out promptly. The developer has also maintained a robust supply pipeline in Abu Dhabi.

Talal Al Dhiyebi, Group CEO of Aldar Properties, highlighted the company's international expansion strategy, stating, "Our recently announced international expansion strategy centers on exploring opportunities to acquire or partner with established operating platforms in our target markets."