Font Size

- Aa +

Fri 22 Jun 2018 08:38 AM

Font Size

- Aa +

HSBC to open new $250m Dubai HQ next month

The banking giant said employees would start moving into the Downtown Dubai tower "from July through to August, as planned"

HSBC to open new $250m Dubai HQ next month
HSBC's 20-storey new HQ will open next month.

HSBC Middle East's million-dollar headquarters in Dubai will open next month, the banking giant told Construction Week

HSBC expects to open its $250m (AED918.1m) Middle East headquarters located in Downtown Dubai in July, a company spokesperson confirmed.

"We are looking forward to welcoming HSBC colleagues into our new building from July through to August, as planned," a spokesperson said.

HSBC Middle East, which has transferred its place of incorporation and head office from Jersey to the DIFC, announced plans to build its new office in Dubai in January 2016.

HSBC to build new $250m MidEast HQ in Dubai

Gulf Resources Development & Investment will construct the tower and sell it to the lender in 2017

German Formwork Technology (GFT) says it has worked on the project, and pictures on its website appear to show various images of wall formwork for HSBC's new building, which was under construction at the time.

HSBC has not revealed details of which company constructed the tower, but GFT lists Multiplex as the project's contractor.

The HSBC Tower Dubai website also names the Australian-headquartered builder – formerly called Brookfield Multiplex – as the project's "general contractor", with Broadway Malyan named executive architect.

According to a Bloomberg report cited by Arabian Business in 2016, the 20-storey tower was to be built by Abu Dhabi developer, Gulf Resources Development and Investment, who would then sell it to HSBC Bank Middle East Limited.

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.