Abu Dhabi’s largest listed developer, Aldar Properties, has completed its first acquisition outside the MENA region by purchasing UK developer London Square for Dh1.07 billion (£215 million). The move is part of Aldar’s expansion strategy, which includes entering select international markets, with a particular focus on Europe.

This acquisition is expected to accelerate Aldar’s growth, diversify its revenue streams, and create cross-selling opportunities. Additionally, it grants Aldar a significant foothold in the London property market.

Talal Al Dhiyebi, Group CEO of Aldar Properties, commented on the acquisition, saying, “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, which is synergistic in nature, gives us the ability to leverage our mutual strengths, shared values, and common approach to home building to scale London Square.”

Aldar Properties has been rapidly expanding its portfolio to boost growth, reporting record development sales of Dh7.8 billion in the third quarter of this year and launching 11 new projects. The acquisition of London Square aligns with Aldar’s strategy to enter high-growth real estate sectors in mature markets.

The UK, particularly London, presents an attractive entry point for Aldar, as it remains a global real estate hub with significant value and an undersupply of new homes.

London Square, established in 2010, boasts a development pipeline exceeding £2 billion and has completed over 3,500 homes. This acquisition will enable London Square to extend its presence across Greater London and the south-east, addressing the ongoing housing shortage in these areas.