CB Richard Ellis Group, Inc. (CBRE) has today announced International Tower (www.internationaltower.ae) as the first building in ADNEC’s Capital Centre master planned development to top out, following completion of the final concrete pour.
The 41,000sq m Grade A building, being developed by SinoGulf, is on target to complete, as scheduled in July 2011. SinoGulf has appointed CB Richard Ellis as exclusive letting agents and they are currently in discussions with a number of interested parties.
Richard Foulds, Head of Landlord Services at CB Richard Ellis, commented, “We are currently in negotiations with a number of blue chip international tenants. International Tower is one of the highest quality buildings in Abu Dhabi and will be the first office project to be completed in Capital Centre”.
“International Tower affords tenants the opportunity to occupy internationally specified Grade A office accommodation previously unavailable in this market. International Tower is the only Grade A building being completed on Abu Dhabi main island in 2011. It offers the most efficient floorplates in the market, making the building the most cost effective Grade A building available to occupiers.”
David Cockerton, Senior Executive at SinoGulf, stated, “We are very excited about this project, which is nearing completion and expect strong take-up over the next 12 months. We see Capital Centre, in line with ADNEC’s vision, as a New Economic Engine for Abu Dhabi”.
CB Richard Ellis’s Abu Dhabi MarketView for Q4 2010 indicates positive economic growth in the coming year which is expected to produce a more lively office market during 2011.
Other developments moving forward at Capital Centre include SinoGulf’s adjacent residential tower and seven new hotels. High profile occupiers who will be relocating to Capital Centre include Finance House, The National Investor, InvestAD and National Holding and their subsidiaries.
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