Abu Dhabi developer acquires London Square

Abu Dhabi real estate developer and investor Aldar Properties has acquired London Square for £230 million.

Aldar’s acquisition of the Uxbridge-based London Square marks its first international purchase beyond the Middle East and North African region.

Both companies said they had a “shared vision and approach” to creating “world-class” developments, based on high quality design, sustainability and “customer service excellence”. They also stated their mutual robust governance, corporate culture and brand reputation.

London Square’s new owner, Abu Dhabi’s largest real estate group, is set to support the London developer’s land acquisition strategy which will allow it to develop larger and “prime central” London sites, strengthening its foothold in Greater London and the South east.

And both organisations said the acquisition would positively impact sales, “given the potential for capitalising on cross-selling across both companies' diverse international customer networks”. During the first nine months of 2023, Aldar’s development sales totalled £4.15 billion.

Aldar said its acquisition represented a “strong vote of confidence” in London Square’s management team and business model. It also noted the developer’s track record of securing planning consent through its strong relationships with local authorities which it would reinforce, and expertise in delivering complex brownfield …