Mashreq, one of the UAE’s leading banks, said it has signed up Arabian Construction Company (ACC) to build its new corporate headquarters in Downtown Dubai. The work is due to start later this year.

The bank, which has been headquartered out of Deira since it began operations almost 50 years ago, will move to its new base at the Dubai Financial Centre Road (Doha Road)/ Mohammed bin Rashid crossing, in the Burj Khalifa District.

The construction of the tower, which will have a total build-up area of 71,292 sq m, is set to begin in December, with the completion date penciled in for April 2019.

Mashreq’s headquarters tower, designed as an L-shaped structure, with a square top crown by Skidmore Owings & Merrill, Chicago Office will be 151 m tall,  comprising four basement levels, a ground level and 35 upper storeys.  It will cover a plot area of 4,868 sq m with a total built-up area of 71,292 sq m.

"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," remarked AbdulAziz Al Ghurair, the chief executive of Mashreq, after signing the agreement with Ghassan Merehbi, the chairman of ACC.

"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.

On the contract win, Merehbi said: "ACC has once more had its impressive construction and development credentials recognised, by being granted this prestigious construction project."

The skyscraper will be a prominent addition to Dubai’s skyline, located in the downtown area with panoramic views of Sheikh Zayed Road, he stated.

The tower will boast a range of facilities including retail banking, conference facilities, an auditorium, a landscaped garden and 35,000 sq m of office space.

"We are delighted to be working with one of the best-known banking industry names in the Middle East and to be able to add the Mashreq Bank headquarters to our portfolio of noteworthy projects across the UAE," he added.-TradeArabia News Service