Bahrain-based property investor Investate has purchased a prime London waterfront site and plans to launch a $750 million residential project there, the company said on Sunday.Investate has acquired the 1.8 hectare waterfront site known as Tideway Industrial Estate in partnership with The First Investor from Qatar, Rashed Al Rashed and Sons Group from Saudi Arabia and the UAE's Omniyat Holdings, the company said in a statement.
The project is located on the River Thames, near the suburb of Chelsea, the firm said.
Investate CEO Salah Nooruddin said the residential project will be known as Tideway Wharf.
Investate, with regional developer Omniyat Properties, would engage international architects and consultants to construct the residential development on the site, he said.
Investate did not provide any further details on the development.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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