Aldi is looking to double down on its presence within the M25 as part of plans to expand its UK network of supermarkets.
Some 2,400 jobs will be created as the value supermarket aims to boost the number of its London stores almost two-fold from the 60 there already, it said in a statement.
“We’re conscious that there are still many areas, particularly in the capital and within the M25, that don’t have access to an Aldi,” said regional managing director Ben Shotter.
“As a result, too many people have to make do with big prices at the big supermarkets.”
It comes after the German discounter announced last week it would be opening 40 new stores in Norwich, Newcastle, Huddersfield and Shrewsbury in the coming months, as well as hiring around 6,000 people this year.
Aldi overtook Morrison's to become the UK’s fourth largest supermarket last year, as consumers searched for cheaper alternatives due to rising costs.
It currently operates 990 stores in the UK and aims to take this over 1,000 in 2023, with the overall goal of running 1,200 across the country by 2025.
Aldi added it was exploring empty office blocks and new housing locations both in and out of city centres for the new stores.