State-owned Abu Dhabi National Exhibitions Company (ADNEC) forms a venture with UK developer Mount Anvil Group to build apartment towers, Bloomberg quotes two people with knowledge of the matter as saying.
The companies will develop about 1,000 homes on land next to the ExCel London conference venue. The formed venture has not yet applied for approval to build on the land, which is currently used for parked vehicles.
ADNEC earlier bought London’s largest events space ExCel, which hosted the 2012 Olympic Games in 2008.