Finance House to move Corporate Headquarters to ADNEC’s Capital Centre in 2012

Press release

Published December 26th, 2010 - 03:58 GMT

Finance House Headquarters

ADX (Abu Dhabi Securities Exchange)-listed Finance House PJSC has become the latest big-ticket business to reveal plans to relocate its corporate headquarters to Capital Centre, ADNEC's master-planned business and residential micro-city, currently under development in the UAE capital.

"I am delighted to note that Capital Centre continues to attract leading local and international businesses; ADNEC welcome this decision by Finance House which underscores Capital Centre's prominence as one of Abu Dhabi's leading commercial destinations," said Simon Horgan, CEO of ADNEC Group.

Mohammed Alqubaisi, Chairman of Finance House, said: "Abu Dhabi's emergence on the world stage has provided organisations such as ours a strong platform to expand our business. ADNEC's Capital Centre development in Abu Dhabi provides us an exceptional base from which we can tap market opportunities and contribute to furthering the economic potential of Abu Dhabi emirate. We look forward to our move to Capital Centre in 2012".

Finance House's headquarters will be located in a 22 storey tower at Capital Centre having a total built-up area of 45,675sqm. Enabling works on the tower are already complete with structural works currently underway.

Finance House recently awarded a AED 123 million contract to Benyan Development Company LLC for the tower's construction. The tower will house all the companies under the Finance House umbrella enhancing productivity and efficient workflow.

Finance House joins several other industry leaders including TNI (The National Investor) and Al Nasser Holdings who are moving their corporate base to landmark towers the companies have under development at Capital Centre, located adjacent to the thriving Abu Dhabi National Exhibition Centre.

ADNEC's Capital Centre is a business and residential micro-city comprising 23 towers, located adjacent to the Abu Dhabi National Exhibition Centre, and the gravity-defying Capital Gate tower – holder of the Guinness record for 'world's furthest leaning manmade tower'. Capital Centre has also attracted leading hospitality brands including Rotana and Premier Inn. The master-planned development is complemented by the 408-room Aloft Abu Dhabi hotel which is inter-connected with the exhibition centre, and the 189-room 5-star Hyatt Capital Gate, located within the gravity-defying Capital Gate.

Background Information

Finance House

Finance House was established as one of UAE’s first “independent” finance companies. We commenced operations in July 2004, and our principal activities consist of investments, consumer and commercial financing. These business lines constitute the engines of the company’s continued growth.

Company Profile

Abu Dhabi National Exhibitions Company Group

Abu Dhabi National Exhibitions Company Group (ADNEC) is an international venue development and business management company. ADNEC Group's portfolio currently includes the Abu Dhabi National Exhibition Centre, the Gulf's largest exhibition centre; ExCeL London, the UK capital's largest exhibition centre; the Al Ain Convention Centre, a brand new development in the historic city of Al Ain, Capital Gate, the UAE capital's iconic, gravity defying tower and a number of hotel projects. In addition ADNEC is master developer of the Capital Centre project, the world's first fully interconnected exhibition lifestyle destination.

ADNEC Group is developing its network both through acquisition and construction; the company's objective is to become the world's leading venue provider to the international exhibitions, conferences and live events industries by providing consistently high standards of venue facilities, management and client relationships and capitalising on the synergies which exist within a global venue network.

ADNEC Group's Executive Office is located in Abu Dhabi, the capital city of the United Arab Emirates. ADNEC Group is a Government organisation which functions as a private enterprise and operates within the principle core values of efficiency and effectiveness.