Qatari Diar Real Estate Investment Company, Delancey’s flagship client fund, DV4, and the Dutch pension fund asset manager, APG, have joined forces in a £1.4bn tie-up which owns East Village and the first phase of the Elephant and Castle Town Centre redevelopment.
The equal partnership aims to become a leading player in the delivery of professionally managed homes in London and other major UK cities.
Sheikh Jassim Al-Thani, Chief Development Officer for Europe and the Americas at Qatari Diar, said: “This merger between two leading London private rented sector schemes is the first step in what is a much larger endeavour: to significantly increase the supply of new homes in connected and affordable locations in British cities.
“This ambition lies at the heart of Qatari Diar’s vision to create vibrant, sustainable local communities where people aspire to live, work and visit. We are delighted to have forged this important partnership, which we are confident will play a leading and very positive role in the future of the UK’s residential investment sector.”
East Village was the base for Olympic athletes when London hosted the games in 2012.
A total of 1,500 homes have been built and let across East Village and Elephant and Castle, another 1,000 are under construction and a further 1,500 have planning permission for development.
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