Abu Dhabi National Exhibitions Company (ADNEC) announced today, (September 19, 2006) the launch of the sale of plots on 147,582 square meters of prime land at Capital Centre, the new name and brand for the 8 billion (US$ 2.17 billion) business and residential micro-city being built around the iconic Abu Dhabi National Exhibition Centre in the UAE capital.
Capital Centre is being designed by an international team of master-planners, architects and engineers to create a thriving destination. The strategically-located plots, collectively valued at more than US$ 571 million (AED 2.1 billion), are earmarked for the mixed-use development of hotels, residential and commercial towers, a retail zone and a stunning marina that will enhance the local landscape.
From 2007 Abu Dhabi will begin to see this unique project take shape. Ideally located near the diplomatic area, the UAE capital’s first development of this kind focusing on economic and exhibition development will create a vibrant business and lifestyle destination for residents and visitors alike. At the heart of this Centre will be an unmatched, best-of-breed exhibition multiplex which is already under construction. This will act as Capital Center’s economic driver - attracting businesses, international event organizers, exhibitors and visitors from all over the world, thus driving Capital Center’s tremendous investment potential.
Some of the highlights of Capital Centre will be: The Grandstand - a tribute to the past, the historic Grandstand that, for many years, was used by His Highness Sheikh Zayed Bin Sultan Al Nahyan, the late President of the UAE, to view parades and other key celebrations is being integrated into the Capital Centre development; 30 Towers that will house a mix of hotel and residential accommodation as well as office and retail opportunities; The Galleria – a paradise for shoppers, this will be an enclosed multi-storey air conditioned retail space; The Marina - providing scenic opportunities, the future home of super-yachts, marine exhibitions and floating hotels will become one of Abu Dhabi’s most vibrant locations; The Feature Tower – futuristic and gravity defying, the tower will be one of the key visual icons of Capital Centre.
H.H. Sheikh Sultan Bin Tahnoon Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman, Abu Dhabi National Exhibitions Company said: “Capital Centre is one of the cornerstones of our strategy to strengthen Abu Dhabi’s profile as a major destination in the Middle East for the MICE industry. It will serve as a foundation on which new investments, industrial growth and business tourism will be built.”
He added: “Capital Centre provides one of the best investment opportunities in Abu Dhabi today, as has been proven by similar international case studies. This unprecedented offering seeks to utilize the benefits provided by exhibitions, conferences and other events to diversify the region’s economy, bring economic benefit to Abu Dhabi, promote Abu Dhabi as the preferred destination in the region for commerce and tourism and develop the economic potential of the Emirate and the city.”
His Excellency, Ahmad Humaid Al Mazrouie, Managing Director, ADNEC said “This premier district will become a prominent hub of activity and opportunity capitalizing on Abu Dhabi’s welcoming and service-oriented culture, and will serve as a strong driver and catalyst for economic growth. The plots of land being sold offer immense value to investors as the district continues to be enhanced with future developments.”
At the heart of Capital Centre will be the Abu Dhabi National Exhibition Centre. On completion, it will offer 57,000 square meters of interconnecting hall space including a 3,168 square metre atrium, 21,000 square meters of U-shaped air conditioned concourse, 7,500 square meters of high specification multi-purpose hall for conferences and events, dedicated conference and banqueting areas for groups of 400 and 800 people. It will also feature more than 30 mezzanine level flexible meeting rooms, 2,000 square meters of serviced office space, 2,000 square meters of diverse food courts, and a multi-storey and grade level car parking for more than 7,500 vehicles.