CMS advises Aldar Properties on London Square acquisition

CMS has advised Aldar Properties PJSC (Aldar), the leading real estate developer, investor, and manager in the UAE, on its acquisition of London Square Developments for an enterprise value of £230million. This latest acquisition marks Aldar’s first investment outside of the MENA region and its entry into the UK housing developer market. It puts the United Kingdom – and London Square – at the forefront of its international expansion strategy, capitalising on the strong fundamentals of both the UK market and London Square.

London Square, a premier and leading residential and mixed-use developer operating primarily across Greater London, has a diversified portfolio and delivers homes of all tenures, including as a registered provider of affordable housing, a key operating segment for London Square.

John O’Connor, partner, CMS Dubai said, “We’re delighted to have advised our longstanding client on this strategic acquisition, which marks a major milestone for Aldar. Key to delivering on this project was our ability to assemble a multidisciplinary, cross-border team across the UAE and UK, with extensive experience in navigating challenging deals of this nature. We look forward to following Aldar’s journey as it continues to accelerate its growth plans.”

The CMS team was led by John O’Connor (Corporate), Alan Crawford and Neil Lacey (both Real Estate), supported by Kiren Matharu, Stephen Kilshaw and over 60 other CMS lawyers across the UK and UAE.