Dubai: Mashreq has announced that it will begin construction of its new corporate headquarters later this year. The bank, which has been headquartered out of Deira since it began operations almost 50 years ago, will now be headquartered in Downtown Dubai.
Arabian Construction Company (ACC) will construct the new tower, having been awarded a 28-month contract. Construction of the tower is set to commence in December of this year, with the completion date pencilled in for April 2019, and will be located on the Dubai Financial Centre Road (Doha Road)/ Mohammad Bin Rashid crossing, in the Burj Khalifa District.
Mashreq’s HQ tower, designed as an L-shaped structure, with a square top crown by Skidmore Owings & Merrill, Chicago Office will be 151 metres tall, (4 Basements + Ground + 35 story), covering a plot area of 4,868 sq metres with a total build up area of 71’292 sqm.
The signing ceremony was attended by Abdul Aziz Al Ghurair, CEO of Mashreq and Ghassan Merehbi, Chairman of Arabian Construction Company.
“The planned tower is testament to the growth we have witnessed over the last 50 years, which has, in many ways, mirrored that of both Dubai and the UAE. In a short space of time, the country has established itself as an international gateway for trade and banking, and we’re confident in its ability to maintain its momentum, allowing us to continue investing in our business and talent across the country and wider region,” said Al Ghurair.
Upon completion, the bank will move staff from its current headquarters near Al Ghurair centre.
