Banks hog at least half of commercial space in UAE downtown development
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.
- Understanding the ripple effect: 8 reasons the US economy has slowed down in Q1 of 2015
- Can Bahrian emerge from the oil price plunge 'stronger than ever'?
- Egyptian stocks plummet as Yemen confict deepens
- UAE sweetens flotation regulations to attract more investment
- Replacing Switzerland? Why Lebanon isn't keeping its banking secrecy a secret
- Galleries first restaurant opens as retail deals reach 50 per cent milestone
- Msheireb Properties awards Arabtec QR2.3 billion construction contract for phase 2 of downtown regeneration project
- international investment bank’s first half net income rises by 79.5%
- Dubai Chamber discusses Leasing Commercial Space in Dubai
- Big names get down to business at downtown Jebel Ali