| Also Known As |
: |
Sowa Island, Suwa Island, Abu Dhabi Financial Center |
| Country |
: |
UAE |
| Project Value |
: |
USD 1,000,000,000 |
| Sector |
: |
Real Estate | Community Development |
|
Consultants |
: |
Handel Architects
(Design) |
Goettsch Partners
(Design) |
|
Contractor |
: |
Oger Abu Dhabi
(EPC and MEP) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (4) | Related Projects (1) |
|
Phase:
EPC - Execution
|
|
Completion: H2 2013
|
|
|
|
| Background |
Mubadala Development CompanyMubadala Development Company plans to develop Sowwah Square, also known as Suwa Square, in Suwa Island, Abu Dhabi.
The development will cover a 490,000 sq. m. area and will include Abu Dhabi Securities Exchange Center, 4 office towers, 2 hotels, conference facilities, a 300-seat auditorium, and a parking area.
Goettsch Partners is the design consultant and Handel Architects is the design consultant for the hotels. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Q3 2012 |
Completion | Office towers 2, 3 and 4 expected to be completed | | Q4 2012 | Completion | Rosewood hotel expected to be completed | | H2 2013 | Completion | Project (including the second hotel)expected to be completed
|
|
| Latest Events |
In April 2012, construction of the project was ongoing.
In Q3 2012, towers 2, 3 and 4 are expected to be completed (delayed from Q2 2011).
In Q4 2012, the construction of the Rosewood Hotel (first hotel) is expected to be completed.
In H2 2013, the project (including the second hotel) is expected to be completed. |
| Previous Events |
In Q1 2012, tower 1 (Al Sila) was completed.
In June 2011, Abu Dhabi Securities Exchange Center was completed.
In March 2011, one office tower was completed.
In March 2008, a joint venture agreement was signed by Mubadala Development CompanyMubadala Development Company and John Buck Company to establish John Buck International.
In September 2007, construction started.
In 2007, the EPC contract ( including MEP works) was awarded to Oger Abu DhabiOger Abu Dhabi. |
| Scope of Work |
Construction of a 490,000 sq.m. commercial development including:
- Abu Dhabi Securities Exchange (ADX)
- Two 37-floor office towers
- Two 31-floor office towers
- 33,000 sq.m. of retail outlets (The Galleria)
- 2 hotels
- Conference facilities
- 300-seat auditorium
- 5,200-car parking area |
| Financing Source |
In October 2009, Mubadala approached banks to raise a USD 1.2 billion loan to develop the project.
Royal Bank is the financial adviser. |
| Contract Packages |
| Type |
Project Name |
Contract Value |
 |
Mubadala - Sowwah Island |
- |
|
Mubadala - Sowwah Island - Phase 1 |
USD 3,000,000,000 |
|
Mubadala - Sowwah Island - Phase 1 - Cleveland Clinic Abu Dhabi (CCAD) |
USD 1,300,000,000 |
|
Mubadala - Sowwah Island - Phase 1 - Four Seasons Hotel |
USD 272,000,000 |
|
Mubadala - Sowwah Island - Phase 1 - Rosewood Hotel |
USD 218,000,000 |
|
| Related Projects |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| 2007 |
EPC | Contract including MEP works awarded to Oger Abu DhabiOger Abu Dhabi
|
| Sep 2007 |
Construction | Construction started
|
| Mar 2011 |
Completion | One office tower completed
|
| Q2 2011 |
Completion | Abu Dhabi Securities Exchange center completed
|
| Q1 2012 |
Completion | Office tower 1 completed
|
| Q3 2012 |
Completion | Office towers 2, 3 and 4 expected to be completed
|
| Q4 2012 |
Completion | Rosewood hotel expected to be completed
|
| H2 2013 |
Completion | Project (including the second hotel)expected to be completed
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Community Development 
Talk To Zawya Analyst
Download to PDF