ECE and Art-Invest team up for €213m London residential scheme

ECE has entered into a joint venture with Art-Invest Real Estate UK for the development of a €213 million ($238 million) residential project in the heart of London’s West End.

The partnership will develop 88 luxury apartments, 35,000 square feet of commercial space and 15 affordable housing units on a one-acre site on Cleveland Street in London W1.

Its co-development partner is Dukelease, and completion of the project is scheduled for 2021.

ECE considers the joint venture development as an opportunity to build up its U.K. experience.

“ECE is a natural joint venture partner for us on our first development in the United Kingdom,” said Ali Abbas, Art-Invest Real Estate U.K.’s managing partner. “Its approach to real estate and its commitment to excellence is completely aligned with our strategic values. Our partnership with ECE on this development is underpinned by our local expertise and capability to originate, execute and deliver and we are del