ADNEC forms venture to build 1,000 apartments at ExCel London – report

ADNEC bought ExCel in 2008 for $415m

State-owned events venue operator Abu Dhabi National Exhibitions Company (ADNEC) has reportedly formed a venture with UK developer Mount Anvil Group to build apartment towers next to the ExCel London.

Bloomberg cited people familiar with the matter as confirming the venture, which plans to build 1,000 units on land next to the conference venue that is currently used for parking.

Mount Anvil did not respond to requests for comment.

ADNEC bought ExCel in 2008 for GBP318m ($415m). It is London’s largest event venue hosts numerous business conferences and trade shows.

The two firms have yet to apply for approval to build on the land, according to Bloomberg.