Dubai based developer Arada has acquired an 80% stake in the planned £2.5bn Thameside West scheme in London’s Royal Docks.

The Foster + Partners designed project will deliver at least 5,000 homes, with half of the 47-acre site dedicated to green space and a kilometre of active waterfront.

It occupies central London’s longest stretch of undeveloped riverfront, with views across Canary Wharf and Greenwich Peninsula.

Already awarded consent, Thameside West will see 1,000 homes delivered in the first stage of the project, with construction set to begin in 2027.

The acquisition from private developer Keystone represents follows Arada’s purchase of local developer Regal in September.

Arada will work alongside the London Borough of Newham, Greater London Authority and Transport for London to transform this former industrial site into a new neighbourhood.

His Highness Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada, said: “Our entry into this market was grounded in our unwavering faith in London and its attractiveness as one of the world’s leading capital cities.

“At the time of the Regal acquisition, we articulated our ambition to scale our London residential pipeline to 30,000 units over the next three years, and we have swiftly delivered on growing that pipeline. Thameside West represents a unique opportunity to create a landmark riverside development, and we look forward to working with our partners and utilising our long-standing track record in large-scale, amenity rich residential schemes to unlock the delivery of new housing for London.”

The acquisition of Thameside West increases Arada’s London development pipeline to 15,000 homes.