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Al Hilal Bank, a progressive Islamic bank, yesterday (Tuesday, September 20, 2011) held a groundbreaking ceremony for its flagship commercial development located at the heart of the Sowwah Island mixed-use development in Abu Dhabi. The 120 metre-high tower will offer exceptionally efficient, Class A office space to leading national and global firms.
Sowwah Island and adjacent edges of Al Mina, Al Reem and the Abu Dhabi Islands are designated as Abu Dhabi City’s Central Business District under the Capital 2030 urban structure framework plan. Al Hilal’s tower will thus be strategically positioned at the center of the capital’s downtown district, upcoming developments at Al Reem Island and Mina Zayed, and the new cultural district on Saadiyat Island. The office tower has direct access to three main island roads and the upcoming Central Park, Cleveland Clinic Abu Dhabi and the Abu Dhabi Stock Exchange.
The new Al Hilal facility will be serviced by a state-of-the-art, multi-tiered transportation infrastructure which will include a planned Light Rail station. It will include over 1,000 parking spaces for tenants, a high-class retail component at the ground floors and 25 commercial office levels. The building comprises over 34,000 sqm of office space and 700 sqm of retail area available for leasing. Floor plate efficiencies reach the high 80s and the development complies with the Estidama Pearl Rating System requirements. Completion is scheduled for the last quarter of 2013.
“Al Hilal Bank is very proud to commence work on our key contribution to Abu Dhabi’s 2030 Vision. Our tower supports Sowwah Island’s mission of drawing in world-class organizations to redefine Abu Dhabi’s business landscape. It also shows our commitment to socially-responsible growth, as the tower’s elements have been designed to minimally impact the environment and are aligned with Estidama’s overarching sustainability principles. Our future commercial developments will mirror the same high standards we have set for our flagship tower,” said H.E. Ahmed Ateeq Al Mazroui, Chairman of Al Hilal Bank.
Al Hilal Bank is fully owned by the Abu Dhabi Investment Council, the investment body of the Abu Dhabi Government. It currently operates 19 local branches plus three in Kazakhstan. Al Hilal recently received the ‘Quality Appreciation Award’ from the Sheikh Khalifa Excellence Award, the UAE’s most prestigious business excellence award. The bank has also been awarded ISO 9001:2008 certification by German management systems certification body DQS-UL Group for its outstanding compliance with international Organizational Excellence, Employee Relations, Recruitment, Talent Management, Performance & Rewards, and Budget & Payments standards.
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