GLOBALFOUNDRIES and UAE's Insurance Authority Take Space in Aldar's HQ

GLOBALFOUNDRIES and UAE's Insurance Authority Take Space in Aldar's HQ

Commercial News » Commercial Real Estate Edition | By Alma Kadragic | September 27, 2010 9:00 AM ET

ak-HQ2.jpg (ABU DHABI, UAE) -- Two announcements of major leases yesterday for Aldar which has been rumored to be struggling to fill its iconic HQ building at Al Raha Beach. GLOBALFOUNDRIES, a world-leading global semiconductor manufacturer, is to become a tenant in the disc shaped premium office building. The company will be joined by the Insurance Authority of the UAE which is taking the entire 16th floor for its new home.

Geoff Akiki, General Manager, Abu Dhabi Cluster, GLOBALFOUNDRIES, explained what the move to HQ signifies for the company: "Innovative in design, this facility will provide us with the services we need to support a growing operation as we expand our regional footprint and scale our presence in Abu Dhabi."

His comments were echoed by H.E Fatima Mohammad Ishaq Al Awadhi, Deputy Director General of the national Insurance Authority. "HQ provides a very high-quality working environment for our employees in the Al Raha Beach area, which has much to recommend it,"  she said.

ak-HQ1.jpg HQ is the latest addition to a world-class portfolio of commercial properties owned and managed by Aldar. It offers International Grade A specification fit-out, integrated tenant services, and facilities that include a gym, food and beverage outlets, convenience stores, and restaurants.

Rami Nasser, Aldar's Director of Sales & Commercial Leasing, said, "The quality of the development has caught the attention of a number of leading organizations and we are concluding advanced negotiations on a substantial proportion of the building now."

The building which is located on the Abu Dhabi - Dubai highway offers easy access to both Abu Dhabi and Dubai. Being within a 10 minute drive of Abu Dhabi Airport, Aldar is hoping that HQ may suit international organizations seeking a regional headquarters.


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