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.
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Sowwah Square; the heart of Abu Dhabi's new central business district
- United Arab Emirates: Sunday, May 11 - 2008 at 12:11
- PRESS RELEASE
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.
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Notes and media contacts
For all Mubadala & Sowwah Square related enquiries please contact:Jacquelyn Miller
For John Buck International related enquiries please contact:
Mike Fairburn
About Mubadala Development Company
Mubadala Development Company (Mubadala) is a leading business development and investment company based in Abu Dhabi, the capital of the United Arab Emirates.
At the core of its strategy, Mubadala makes long-term, capital intensive investments to deliver strong financial returns and economic diversification. Its mandate is to transform the Emirate from a single-sector economy, driven predominantly by oil and gas, into a multi-sector global economy that comprises a range of thriving industries.
Mubadala is rigorously analytical in its selection of investments and partners, whether it is investing in established businesses such as Carlyle Group and Ferrari or creating new ones by partnering with leading international organizations like Cleveland Clinic. An investment vehicle of the Abu Dhabi Government, its focus is on developing the key industry sectors of healthcare, technology, aerospace, energy and real estate, and building links between them to ensure that the economy is fully integrated and sustainable.
Through these carefully selected investments and with the expertise and experience of best-in-class partners, Mubadala is setting the highest standards for business excellence in every sector. By establishing these benchmarks, Mubadala aims to cultivate new employment opportunities and improved standards of living; an attractive business environment for partners and investors; and continued prosperity for Abu Dhabi and its people.
About John Buck International
John Buck International is an Abu Dhabi-based real estate services company specializing in quality-driven, integrated commercial real estate development, leasing and property management services. Established in 2008, John Buck International is a joint venture between Mubadala and The John Buck Company, a leading Chicago-based full-service real estate company. The company focuses on creating value across the real estate sector through highly skilled teams of the best industry personnel, focused on delivering integrated real estate solutions tailored to the sophisticated needs of their clients. John Buck International is focused on delivering premium commercial real estate across Abu Dhabi and the GCC region.
For additional information, please visit www.johnbuckinternational.com
About Abu Dhabi Securities Exchange
The Abu Dhabi Securities Exchange (ADX) is a leading stock exchange in the Gulf Region, and is well-respected internationally. ADX is committed to market integrity and investor confidence, efficiency, fairness, and transparency. It is continuously working to ensure the best interests of its listed companies and investors, staying at the forefront of international best practices and services. ADX has a wide investor base with 860,700 investors including 315,000 foreigners with a market capitalization of $120.7bn at the end of 2007.
Posted by Lara Lynn Golden, News EditorSunday, May 11 - 2008 at 12:11 UAE local time (GMT+4)
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