Global defence giant Raytheon has announced a long-term lease with Mubadala Investment Company, establishing its new UAE headquarters at Abu Dhabi Global Market Square.
Raytheon Emirates, a wholly owned subsidiary of the US parent, said the new HQ will be spread over nearly 1,837 square metres once it is completed and ready for occupancy later this year.
“The lease agreement with Mubadala for our new headquarters further solidifies Raytheon Emirates’ long-term commitment to bringing value and diversification to the UAE economy and providing increased indigenous capability for products, systems and solutions for the UAE Armed Forces and commercial customers throughout the region,” said John Brauneis, chief executive of Raytheon Emirates.
“We greatly value our partnership with Mubadala in securing a prime location for Raytheon Emirates to operate and contribute to the thriving business in Abu Dhabi.”
The lease provides for some flexibility for future expansion of Raytheon Emirates’ headquarters, he added.
Ali Eid Al-Mheiri, executive director of the Real Estate and Infrastructure division at Mubadala, said: “We are proud to welcome Raytheon to ADGM Square where they will locate their UAE headquarters. ADGM Square boasts a growing number of industry leaders, further establishing Al Maryah Island as Abu Dhabi’s premier business hub.”
Raytheon Emirates was incorporated in the UAE in 2017 and is initially focusing on four business areas - cybersecurity, effectors, air and missile defence, and advanced technology.
Raytheon Company posted 2017 sales of $25 billion and has 64,000 employees worldwide.For all the latest tech 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.
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