Reports are surfacing of a joint venture between London property developer Mount Anvil and Abu Dhabi National Exhibitions Co. to deliver c.1,000 new homes next-door to the ExCel London conference centre.
While neither party has confirmed the JV or project, and planning for new towers has not been submitted, Bloomberg cites “two people with knowledge of the plan” who indicate that a JV for the site’s development – currently used as parking space – is a done deal.
Mount Anvil is big on joint ventures, having worked with the likes of A2Dominion, One Housing and Clarion Housing, and with plans for more developments with L&Q, Peabody Group, Hyde Group and Sainsbury’s. The firm has been on something of an expansion drive in London recently, adding 3,250 units to its pipeline in the first five months of 2017.
State-owned ADNEC acquired ExCel, London’s largest events space, back in 2008 for a reported £318m. Other arms of the Gulf state are involved in a considerable number of prime resi property projects in London, including New Scotland Yard, Great Scotland Yard, and Grosvenor Square.
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