Ballymore sells major residential developments into JV

16th January 2015

Property developer Ballymore and Malaysia-based Eco World Investment (EWI) have formed a joint venture to purchase three major residential developments, from Ballymore: Arrowhead Quay in Canary Wharf, phase two of London City Island on the Leamouth Peninsula, and phase two of Embassy Gardens in Nine Elms, for a total of £428.7m. Collectively, the three schemes will deliver 2,800 new residential units, along with 250,000 sq ft of commercial, leisure and office space, and will be worth £2.2bn on completion. EWI will hold 75% of the JV, with Ballymore holding the remaining 25%.

Construction News (13/01/15)