UK firms snap up contract for green headquarters in UAE
UK Export and Finance (UKEF) will support a contract, which it says is worth “tens of millions of pounds”, won by construction company Carillion and Zaha Hadid Architects, to design and build environmental management company Bee’ah’s new headquarters in the United Arab Emirates.
The financing deal, which will be done via the UKEF’s direct lending facility, provide for both the construction and design phases. HSBC was arranger and agent on the transaction
The headquarters, which are designed by world-renowned architect late Dame Zaha Hadid, will be powered entirely by renewable and recoverable energy sources and use recycled materials during construction. The building will use natural light and temperature management systems where possible, and low and zero-carbon sources including solar and waste-to-energy power. Carillion will be responsible for the construction of the building.
Chairman of Bee’ah, Salim bin Mohamed Al Owais, says: “This agreement is a significant moment in the history of the region. It demonstrates Bee’ah’s dedication and commitment to delivering on promises to the people of the UAE by providing tangible solutions to the greatest environmental challenges that face modern civilisation.”
International trade secretary Liam Fox says: “The UAE is a key partner in the region and 5,000 UK companies work there. Through UKEF, the government is ensuring that UK firms can be the first choice to support the country’s ambitions.”
The headquarters is expected to be operational by the end of 2018, and move towards being 100% powered by renewable energy by 2021. The construction phase of the project is expected to last 30 months.take me back