Arada Wins Approval for AED 560 Million London Place Tower in Campsie, Sydney

Arada, a Sharjah-based master developer, has secured planning approval from the New South Wales Department of Planning, Housing and Infrastructure for London Place, a 33-storey residential tower in Campsie, Sydney. The project, announced Oct. 7, 2026, carries a total development value of AED 560 million and marks Arada's first planning approval in Australia.

The firm said London Place is the first of five projects it plans to develop in Sydney's inner southwest region. Construction is targeted to begin in the second quarter of 2027, with completion expected by the fourth quarter of 2029.

London Place Project Details

Designed by Woods Bagot, London Place will comprise 156 apartments across 33 storeys in the Campsie suburb. Eighteen of the apartments, or about 11.5% of the total, are designated as affordable housing. The unit mix includes two-, three- and four-bedroom apartments, along with penthouses on the upper floors.

Residents will have access to a residents' lounge, a private dining room, a music room, a gym, a covered barbecue terrace, a lap pool, health facilities, a sauna and outdoor seating areas. The AED 560 million development value equates to roughly AED 3.59 million per apartment. That figure is a gross development value metric rather than a reported sale price.

Fast-Track Approval Process

The approval followed the project's designation by the NSW Housing Delivery Authority (HDA) as a State Significant Development, a classification that provides a faster planning pathway for major housing projects. London Place received planning approval alongside a change to the site's regulatory zoning classification in under four months, well within the authority's 275-day benchmark, according to the firm.

Arada Executive Comments on Australian Strategy

Ahmed Al Khashibi, Group CEO of Arada, said the company targets locations with development potential. "When selecting locations for our projects, we look for areas with real potential and communities going through a promising stage of development, where the right investment at the right time can make a tangible difference," Al Khashibi said. "Campsie is a clear example of that, and London Place is the first of five projects we plan to develop in Sydney's inner southwest, reflecting our long-term commitment to the area. We have big ambitions and a clear strategy for our business in Australia, and this approval is an important boost to moving forward with our wider project portfolio."

Campsie Metro Access and Urban Renewal

Arada described Campsie as undergoing one of the largest urban transformations in Sydney's inner southwest, coinciding with the planned opening of Campsie Metro station. The firm said residents of London Place will be able to reach Sydney's central business district by metro in less than 20 minutes, providing access to employment, cultural and entertainment destinations.

Arada's Australian and Global Pipeline

Arada entered the Australian market in 2024 and has since built a project pipeline of more than 6,000 homes. Globally, the company's development pipeline is valued at AED 171 billion and includes more than 70,000 homes across the United Arab Emirates, the United Kingdom, Australia and Syria.

Sydney Apartment Market Context

London Place enters a Sydney apartment market characterized by tight supply. JLL reported just over 1,300 apartment completions through March 2026, with another 5,900 units expected during the remainder of the year. About 14,000 apartments are under construction and 34,000 are in planning.

Sydney's median apartment price reached AUD 822,800, up 5.5% year over year. Median apartment rent stood at AUD 730 per week, up 1.4% annually, while rents for three-bedroom apartments rose 5.6% to AUD 950 per week. The city's rental vacancy rate declined to 1.3%, compared with a long-term average of 2.3%.

Activity indicators were softer. Apartment sales fell 11% year over year and new apartment leases declined 17.6%, reflecting higher borrowing costs and broader affordability pressure. JLL identified the supply-demand imbalance as a near-term driver of apartment price and rent growth, while cautioning that delivery of new projects could eventually ease that pressure.

CBRE expects Australian capital-city apartment rents to rise 26% between 2026 and 2031. Separate projections for Sydney estimate average annual apartment delivery of roughly 11,000 units through 2031, against annual housing demand of approximately 27,000 dwellings.

Outlook

With planning approval in hand, Arada is targeting a second-quarter 2027 construction start for London Place. The project is the first of the company's planned five-project program in Sydney's inner southwest, which forms part of its broader Australian pipeline of more than 6,000 homes.

Sources

• Arada press release: Arada Secures Its First Australian Planning Approval