Mubadala’s flagship commercial development is set to be the new home of the Abu Dhabi Securities Exchange

Mubadala Development Company (Mubadala) today announced the launch of their latest initiative, Sowwah Square; a flagship commercial development on Sowwah Island developed by John Buck International, a joint venture between Mubadala and The John Buck Company. Sowwah Island is the location earmarked by the urban framework plan, ‘Plan Abu Dhabi 2030’ for Abu Dhabi’s new Central Business District.

Sowwah Square is a prestigious commercial development containing over 570,000 square meters of office, hotel and retail amenities. Sowwah Square will be home to the distinctive new headquarters of the Abu Dhabi Securities Exchange, surrounded by four Grade ‘A’ high rise office towers, totaling 285,000 square meters of dedicated office space. Sowwah Square will set new standards in premium real estate development, leasing and property management by providing a sophisticated environment for leading local, regional and international companies.

Carlos Obeid, Chief Financial Officer of Mubadala, said, “Mubadala is committed to making strong financial investments that support the rapid growth and economic diversification of Abu Dhabi as a global capital city. We are certain that John Buck International’s developments will meet the sophisticated needs of local, regional, and international companies in Abu Dhabi and that Sowwah Square will provide businesses with a flexible long-term environment from which to flourish and grow.”

John Buck, Chief Executive Officer of John Buck International said, “The cornerstone of John Buck International is the customer – our buildings tenants. Sowwah Square represents our complete response to their sophisticated needs; premium design and development quality, flexibility for long-term leases, and professional management services. Sowwah Square will provide a modern, productive and healthy working environment for the prestigious companies located there.”

Tom Healy, Chief Executive Officer of the Abu Dhabi Securities Exchange, represented the first announced tenant of Sowwah Square. “The ADX is delighted to be the anchor tenant of Sowwah Square. We’ve been extremely impressed by the level of dedication and professionalism of Mubadala and John Buck International, and are looking forward to a long and successful future at our fantastic new headquarters building.”

Sowwah Square will feature premium quality business facilities and amenities including extensive conference facilities, a 300-seat auditorium, a five-star business hotel with serviced apartments, exclusive parking for over 5,200 vehicles, a private business club, fine dining and waterfront luxury retail. For commercial tenants, the central location of Sowwah Square on Sowwah Island also brings with it rapid connectivity to clients and partners across the city.

Construction commenced on the site of Sowwah Square in summer 2007, with the development scheduled for completion in 2010.