Banks hog at least half of commercial space in UAE downtown development

Banks hog at least half of commercial space in UAE downtown development
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Published July 25th, 2012 - 16:30 GMT via SyndiGate.info

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Banks take up half of retail space at Downtown Jebel Ali’s The Galleries
Banks take up half of retail space at Downtown Jebel Ali’s The Galleries
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Abu Dhabi Commercial Bank
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Bahaa Abouhatab
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Blom Bank France
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Standard Chartered Bank

The Galleries is home to five international banks – HSBC, Standard Chartered Bank, Citibank, Abu Dhabi Commercial Bank and Blom Bank France – occupying 12,000 sq ft between them.  More bank leases currently under negotiation are set to bring the total space taken by banks to more than 18,000 sq ft.

Bahaa Abouhatab, Head of UAE Projects for Limitless, said: “International banks are drawn to The Galleries’ strategic location, easy transport links and ever-increasing office tenants.  Banks here are visible from Sheikh Zayed Road, and are convenient for passing motorists and people in nearby areas such as Jafza and Dubai World Central who can easily call in to The Galleries to take care of banking business.  This is in addition to serving 2,500 people who work for 60 Galleries-based global and local companies.”

The Galleries is an eight-building mixed-use development set among landscaped, communal grounds spanning 215,000 sq feet – equivalent to three international football pitches.  Less than an hour by car from Abu Dhabi and directly accessed from Sheikh Zayed Road direct road or by its own onsite Dubai Metro station, The Galleries has 2,500 parking spaces as well as onsite Facilities Management and Tenant Relations teams. 

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