Schlumberger, the world’s largest oilfield services company, has become the first Free Zone company established under the Dubai World Trade Centre Authority (DWTC Authority).
It is also the first blue chip tenant at the new Dubai Trade Centre District (DTCD), an integrated mixed used real estate development comprising 535,000 square metres of gross floor area located between the current Dubai International Convention and Exhibition Centre and Jumeriah Emirates Towers in the heart of the city’s Central Business District.
Schlumberger, which signed a long term lease, will occupy three floors encompassing 5,762 square metres in the newly completed office property in DTCD. The company, the world’s leading supplier of technology, integrated project management, and information solutions to the international oil and gas exploration and production industry, is expected to commence operations in April 2016.
The additional leased space adds to Schlumberger’s current operations in the Emirate.
The signing of the agreement was undertaken by Ramadan Mansour, Vice President, Shared Services Organization – Middle East, Schlumberger and Mansoor Althani, Senior Vice President, Corporate Operations, Dubai World Trade Centre (DWTC), in the presence of His Excellency Helal Almarri, Director General of Department of Tourism & Commerce Marketing and Dubai World Trade Centre Authority; and Marwan Moufarrej, President – Middle East, Schlumberger.
“Dubai has been Schlumberger’s Middle East Headquarters for 35 years. And over the years we have expanded our footprint here with facilities in DWTC, JAFZA and in DIFC. We highly value our relationship with DWTC Authority in this Free Zone which has been built on transparency and trust. Today we are cementing this partnership by registering ourselves as the first free zone company in this Free Zone and signing the first long-term lease in the new office property in DTCD,” said Moufarrej.
The establishment of Schlumberger as the first Free Zone company with the DWTC Authority underscores the Authority’s mandate of attracting global, regional and local companies and their investments by providing a more flexible business-conducive destination that incentivises such companies to establish a permanent base in the Free Zone.
“To have Schlumberger as our first blue chip anchor tenant in our office property is a further catalyst to the property which has already achieved more than 70 percent of prelease commitments for the office space,” said Gurjit Singh, Senior Vice President – Real Estate, Dubai World Trade Centre.
“This will also bode well for the 588 room business hotel in DTCD operated by the Accor Group under the Ibis brand, due to open early next year and the on-going development of DTCD phase 2, which comprises two further Grade A office properties of 8 and 12 storeys, scheduled for completion in Q3 of 2017,” Gurjit added.
The Phase 1 development, which was constructed by al Futtaim Carillion as contractors and designed by Hopkins Architects and WSP | Parsons Brinckerhoff, also achieved an impressive health and safety record of 5 million man hours without any Lost Time Incidents.
The DTCD development is being designed to best-in-class quality standards and has achieved LEED® Gold precertification from the US Green Building Council – the industry benchmark for green building performance covering design, construction, operations and maintenance.