UK Export Finance to support Sharjah Beeahs green headquarters project

SHARJAH, 9th February, 2017 (WAM) -- Beeah, a Sharjah-based environmental management company, said that a contract for sustainable engineering would be supported by the UK Export Finance, UKEF, the UKs export credit agency.

The UKEF is extending its support to a Sharjah-based project for the first time, thus showing its dedication to sustainable engineering worldwide and also placing Sharjah as an attractive investment destination for international entities.

The UKEFs support helped Al Futtaim Carillion secure a contract to construct Beeahs headquarters, designed by Zaha Hadid Architects. The financing deal provides for both construction and design. The UKEF will support Carillion and Zaha Hadid contracts under its Direct Lending Facility. HSBC Bank Middle East will act as arranger on the transaction, and HSBC Bank Plc is the agent.

Beeah awarded Carillion the construction contract earlier last year.

The late Dame Zaha Hadid, a world-renowned architect, designed the unique and iconic headquarters to minimise energy and resource consumption. The headquarters will be powered by low- and zero-carbon sources, including solar power and waste-to-energy. It will minimise the need to consume resources by using natural light and temperature management systems wherever possible and construction will use recycled materials.

In line with Beeahs philosophy, it will offer a sustainable and healthy workplace environment for all employees, achieving a Platinum LEED rating, the highest certification for green buildings.

The project is expected to be operational by the end of 2018, moving towards the major milestone of being powered by 100 percent renewable energy.

"Carillions contract to build Beeahs green headquarters clearly demonstrates the UKs leadership in sustainable engineering, and its ability to support smart cities in the Middle East and worldwide. I am very pleased that through the UKEF, the government has helped ensure that this contract has come to the UK," said Greg Hands MP, the UK Minister for Trade and Investment.

Commenting on the contract, Salim bin Mohamed Al Owais, Chairman of Beeah, said, "As pioneers in environmental sustainability in the Middle East, Beeah is proud of our international alliances and the partnerships we have forged to advance our ambitious strategic goals. This agreement is a significant moment in the history of the UAE and especially Sharjah. It demonstrates Beeahs dedication and commitment to delivering on promises to the people of the Emirates by providing tangible solutions to the greatest environmental challenges that face modern civilisation."