London Square sets out plan for 9,000 homes across London in five years
The Aldar-owned developer says the homes, worth £5bn in gross development value, will be spread over about 30 sites, with 65% affordable.
Developer London Square, a subsidiary of Abu Dhabi-based Aldar Properties, has announced a masterplan to deliver 9,000 homes in London over the next five years.
Chief executive Adam Lawrence said the homes would have a combined gross development value of £5bn. The scheme is part of the company's strategy to expand in affordable housing and build-to-rent, aiming to benefit from a gradual recovery in the capital that it expects from next year.
"The market is more challenging than we would like, but our ambition remains to be recognisably London's leading property developer," Lawrence said.
The homes will be built on about 30 sites. The company plans to begin work on 12 of them this year, and 65% of the homes are due to be affordable.
Aldar Properties bought London Square for £230m in December 2023, its first acquisition outside the Middle East and North Africa region.
In August, London Square formed a £100m venture with Hyde Group to build 337 affordable homes in Woolwich, south London. In June it partnered with Quadreal Property Group on a 241-home build-to-rent scheme in Woolwich with a gross development value of £120m.
