Prime office space in Abu Dhabi’s new Central Business District (CBD) set to become home to leading international firms

Mubadala Real Estate & Hospitality Unit (MREH) today announced significant leasing success within Sowwah Square, the commercial heart of Abu Dhabi’s Central Business District (CBD) at Sowwah Island and already home to the iconic Abu Dhabi Securities Exchange (ADX).

Almost all of the first tower, comprising 40,400 sqm, is now leased with more than 13 regional and international firms committed to occupying prime Grade A space at Sowwah Square. The remaining space in the first tower is in final negotiations. Tenants already signed up include a number of leading international firms including Gulf Capital, Abu Dhabi Finance, Booz & Company, Norton Rose, Herbert Smith, Baker Botts, Akin Gump, Latham & Watson and Hogan & Hartson.

“The choice of Sowwah Square by such world-class firms reflects the exceptional quality of space and support services being provided. They expect the best and this is what is being delivered,” said Peter Wilding, Executive Director of Mubadala Real Estate & Hospitality. “Sowwah Square is set to become an address synonymous with a seamless commitment to quality at every level. From the most efficient floorplates to providing all the amenities expected within such a prime location.”

Sowwah Square meets the highest standards expected by international tenants. Large column-free interior floorplates provide the most efficient office space available in Abu Dhabi, alongside dedicated high speed elevators and 5,200 parking spaces, all compliant with the latest UPC standards. Energy efficient design throughout the development ensures that a high level of LEED accreditation will be sought, with Gold pre-certification already achieved for the core and shell.

Peter Wilding, Executive Director, MREH, added, “As the four towers and ADX building are being completed, an increased interest is being shown by prospective tenants who can see the highest quality of environment being created, both internally and externally. Experience has taught us that there is always a flight to quality for those who want the best.”

The four Grade A office towers at Sowwah Square comprise 183,000 sqm of net lettable space, offering panoramic views of the city and all overlooking the iconic ADX. An innovative network of climate-controlled pedestrian corridors will connect all the office towers and provide easy access to the planned Metro and LRT stations. These corridors will also connect to the state of the art Cleveland Clinic Abu Dhabi, already under construction next to Sowwah Square and three world class hotels. Work is already well underway on the Rosewood Abu Dhabi and enabling works have started on the Four Seasons Hotel Abu Dhabi at Sowwah Island. The Viceroy Hotel Group will also be developing a flagship hotel nearby.

Sowwah Square will be open for business in early 2011 when tenants begin moving into the towers. The two bridges already completed will provide fast and easy access to the city centre. With work on Salam Street interchange scheduled to be finished by this time, connectivity to all parts of Abu Dhabi and the region will be fast and efficient. Access to Dubai and Abu Dhabi International Airport will also be quick and easy via the new Sheikh Khalifa bin Zayed Bridge to Saadiyat Island and Yas Island.

Media Contact:

Salam Kitmitto
Edelman Public Relations
E: salam.kitmitto@edelman.com
M: +971 (0)50 800 8268

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures. For more information about Mubadala please visit http://www.mubadala.ae.

About Mubadala Real Estate & Hospitality (MREH)

Mubadala Real Estate and Hospitality (MREH) is a business unit of Mubadala focused on domestic and international projects in the real estate and hospitality sectors. A critical component of Mubadala’s broader mission, MREH is responsible for overseeing strategic projects that are part of the development plans of Abu Dhabi and that help drive the local tourism sector.

With a mandate to drive Abu Dhabi’s long-term development and deliver key projects within Capital 2030 (formally known as Plan Abu Dhabi 2030): Urban Structure Framework Plan, MREH develops strategic, large scale commercial, residential and leisure districts to the best standards of quality, functionality and sustainability. Key Abu Dhabi projects include the development of Sowwah Island, Sowwah Square, Arzanah and Mina Zayed Waterfront.

Within the hospitality sector, MREH is helping to drive the tourism sector by developing world-class hospitality projects in Abu Dhabi, attracting leading hotel operators to the Emirate. MREH also owns 50% of luxury hotel operator Viceroy Hotel Group and has been actively driving its expansion into key gateway cities and leading destinations around the world.

For further information about Sowwah Island please visit: http://www.sowwahisland.ae