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FINANCIAL NEWS
UAE- Sowwah Square to lease last 2 towers
29 Aug 2011
(MENAFN) Mubadala Real Estate and Hospitality Developer’s executive director, Peter Wilding, said that Sowwah Square, the heart of Abu Dhabi’s planned business district, Sowwah Island, would release its remaining two office towers to lease by the end of the year, reported Arabian Business.
Wilding also said that Sowwah Square would play host to four office towers with 183,000 square meters of leasable space. He added that around 40 percent of the development has already been leased.
The executive director stated that tower one (Al Sila) and tower four (Al Khatem) have had great success in the pre-lease market. These two towers are substantially leased.
Wilding added that by the time the developer launches Sowwah Square, which is planned for the end of the year, it would release towers two (Al Sarab) and three (Al Maqam) onto the leasing market. He said that Sowwah Square’s 33,000 sq m retail centre is now expected to complete within two years.
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