The £50m deal sees IJM gain access to JRL’s full self-delivery model, including Midgard, J Reddington and McMullen to deliver planned residential schemes in the south east.

The tie-up also turbocharges IJM’s Innova joint venture with Network Rail Property. This is targeting eight rail-side schemes across four London boroughs topping £3bn in development value.

JRL’s ability to deliver over live rail lines, shown at the pair’s first Royal Mint Gardens project completed in 2023 near the Tower of London, will be key to unlocking these complex urban railway plots.

IJM is also advancing a trio of major London and south east schemes:

Planned phase 2 of Royal Mint Gardens, now in construction

• Royal Mint Gardens Phase 2 – 463-room Wilde Aparthotel and 79 flats, with Midgard on site for 2028 completion.

• 25 Finsbury Circus – a top-end office revamp.

• The Wheat Quarter, Welwyn Garden City – mixed-use regeneration of the old Shredded Wheat Factory site.

For its part, JRL’s growing property arm now boasts 2,400 build-to-rent and co-living units across seven sites, with a development value of £780m, while the group’s total order book has swelled to £1.45bn.

Datuk Lee Chun Fai, IJM group ceo, said: “The completion of this acquisition marks a significant advancement in IJM’s UK growth strategy.

“JRL’s strong project delivery credentials, specialised technical expertise and solid order book enhance our construction capabilities.

“This enables us to effectively pursue complex, transit-oriented and infrastructure-led developments, aligning with IJM’s long-term plans in the UK market.”