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ADFG to start work on New Scotland Yard project

ABU DHABI, November 2, 2016

Abu Dhabi Financial Group (ADFG) said its key UK subsidiary, Northacre, is set to start construction of  'The Broadway,' a massive real estate project, in London, UK.

The announcement comes following the offcial handover ceremony of the former New Scotland Yard site from London’s Mayor’s Office for Policing and Crime (Mopac) to the ADFG.

Assistant Commissioner of the Metropolitan Police, Helen King; ADFG chief executive Jassim Alseddiqi, and chief operating officer Mustafa Kheriba; as well as Northacre CEO Niccolò Barattieri di San Pietro, marked the completion of the landmark deal in front of the iconic New Scotland Yard sign.

ADFG, which had acquired New Scotland Yard from Mopac in December 2014, got the planning permission for the redevelopment of the site earlier this year.

The Broadway, a vibrant new quarter providing 485,000 sq ft of hitech residential space, 146,000 sq ft of commercial and 37,500 sq ft of retail space, is the largest real estate project to be launched in London since Brexit vote. It is due for completion in the next five years.

As development manager, Northacre is set to create a dynamic new commercial and residential destination in the heart of Westminster, appointing the planning consultants Bilfinger GVA and internationally regarded architects Squire & Partners to realise the largest real estate project launched in London since the Brexit vote in June 2016.

The Broadway’s six architecturally striking buildings set over two podiums will provide a generous 20,000 sq ft public realm linking Victoria Street with Broadway Street to the North.

Set to complete in 2021, The Broadway will be a vibrant new quarter, providing 485,000 sq ft of state-of-the-art residential space, 146,000 sq ft of commercial space and 37,500 sq ft of retail. The Broadway’s six architecturally striking buildings set over two podiums will provide a generous 20,000 sq ft public realm linking Victoria Street with Broadway Street to the North.

Alseddiqi said the acquisition of New Scotland Yard and the plans for The Broadway represent ADFG's continuing commitment to investing in unique development opportunities in London.

"The Broadway represents the future of urban living, a thriving destination to live, work and play in a world class address surrounded by unparalleled views of London’s most famous landmarks," he stated.

San Pietro said the official handover of New Scotland Yard marks the beginning of the first phase of its development as a destination to be enjoyed by all.

"The Broadway is an important milestone in Northacre’s history; being our first major mixed-use development it will set a new standard for London living, working and leisure," he added.-TradeArabia News Service




Tags: UK | New Scotland Yard | northacre | adfg | The Broadway |

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