Abu Dhabi - August 2012: Sowwah Square, the heart of Abu Dhabi’s new Central Business District (CBD) on Al Maryah Island (formerly Sowwah Island) last night hosted Iftar for 300 Abu Dhabi’s taxi drivers as part of their Spirit of Ramadan campaign.
To raise awareness of the newest district in the capital, complimentary Iftar meals were distributed by the Mubadala Real Estate & Infrastructure (MREI) team to the Abu Dhabi taxi drivers who visited the Island between 6-9pm. The event provided a great opportunity to help familiarize the Capitals’ taxi drivers with the vast infrastructure surrounding Abu Dhabi’s new business hub. Located at the midpoint between Abu Dhabi’s existing downtown district, and new growth areas, opposite Abu Dhabi Mall, Sowwah Square is now open and home to an ever growing business community working on Al Maryah Island.
After the event, Ali Eid AlMheiri, Executive Director of MREI said “Al Sila [Tower 1], on Sowwah Square, is 82% leased and already home to a dynamic mix of blue-chip global companies including Deloitte, Clifford Chance, Al Tamimi & Company, Latham & Watkins, Baker Botts, Norton Rose, Mubadala GE Capital and the Regulation and Supervision Bureau. The current working population of the CBD is over 800 however this will quickly grow to over 2000 as new companies continue to move into Sowwah Square. With the rapid on-island population growth we want to ensure that a high-standard of services and amenities, including public transport are easily accessible for our tenants. We hope that this event will provide greater clarity of access points, new roads and bridges, to ensure, our tenants, their clients and guests are being serviced well by those who operate Abu Dhabi’s most valued public transport service.”
Modeled on the world’s leading mixed-use CBDs, Sowwah Square is comprised of four architecturally distinguished Grade ‘A’, 30-36 storey commercial towers that together provide 180,000 sqm of column-free, flexible and highly efficient office space. These towers encircle the new headquarters of the Abu Dhabi Securities Exchange (ADX), and sit above the 33,000 sqm premium retail and dining precinct, ‘The Galleria at Sowwah Square’, which connects the square with the ultra-luxury business hotel Rosewood Abu Dhabi at the waterside and mezzanine levels.
About Sowwah Square:
Al Maryah Island (formerly Sowwah Island) has been designated as Abu Dhabi’s new Central Business District (CBD), which forms a key component of the UPC’s Capital 2030 Plan. Located at the midpoint between Abu Dhabi’s existing downtown and new business and residential districts, Sowwah Square marks the completion of phase 1 of Al Maryah Island’s development and an important milestone in the Government’s strategic urban development plan.
Sowwah Square has been developed by Mubadala Real Estate & Infrastructure (MREI) and modeled on the world’s leading mixed-use, 24-hour CBDs. It comprises four international Grade A office towers with Tower 1, Al Sila, already home to a mix of blue-chip global companies including Deloitte, Clifford Chance, Al Tamimi & Company, Latham & Watkins, Mubadala GE Capital, Norton Rose, Baker Botts, King & Spalding and the Regulation & Supervision Bureau. Sowwah Square will also incorporate the new Abu Dhabi Securities Exchange (ADX), the ultra-luxury Rosewood Hotel Abu Dhabi and The Galleria at Sowwah Square, a 33,000 sqm retail and dining precinct that connects the entire mixed-use development to the waterfront.
Mubadala Real Estate & Infrastructure (MREI) operates as an equity partner and asset manager, focusing on social infrastructure projects and Real Estate investment opportunities, both within the UAE and overseas.
The unit develops strategic commercial, residential and leisure districts that are central to Abu Dhabi’s long term development plans, as well as delivering supporting infrastructure essential to the Emirate’s economic diversification. These major projects are part of the government’s 2030 plan, a comprehensive strategy to develop the capital into an environmentally, socially and economically sustainable, world-class city.
MREI works to international standards of quality, functionality and sustainability. A number of local hospitality sector projects are attracting world-class hotel and leisure operators, which are vital to Abu Dhabi’s growing luxury tourism industry. Key Real Estate projects include Sowwah Square, the heart of Abu Dhabi’s new visionary Central business district on Al Maryah Island. The unit is also responsible for the development of several pioneering infrastructure projects including the UAE University, Paris-Sorbonne University Abu Dhabi and Zayed University Abu Dhabi’s new campus.
Collectively, these investments remain true to the Mubadala mandate by delivering positive financial and social benefit for the community while supporting the socio-economic development of the Emirate and providing long-term financial returns.