HQ commercial office tower to welcome first tenants this week

HQ, also known as "The Coin", welcomes its first commercial office tenants this week.

HQ, the eye-catching 23-storey circular office building at Al Raha Beach built by Aldar Properties, will welcome its first tenants this week.

Aldar staff and four other firms will transfer into the "Grade A"-quality office building that features concierges, male and female gymnasiums, valet parking and high-speed lifts.

The move will further the development of Abu Dhabi's "off-island" areas of Al Raha Beach and Khalifa City that are slowly bearing the fruits of the development plans laid out under the emirate's 2030 plan, which outlines the creation of dynamic communities. HQ's commercial office space is being matched by newly opened residential developments such as Al Raha Beach, Al Raha Gardens, Khalifa City A and Al Reef Villas that are gradually enticing retailers including Spinneys and Abela to open outlets.

Construction of the 110-metre tall HQ tower began in October 2007 and the project's estimated cost is US$300 million (Dh1.1 billion).

"We are delighted to be moving into our new home," said Sami Asad, the chief executive of Aldar. "With the map of our city changing at such a pace, this move positions us close to growing residential communities."

Aldar will occupy about 20 per cent of the 50,000 square metres available for lease, and said it would be joined immediately by the high-tech companies Advanced Technology Investment Company and Globalfoundries, the Swiss-Swedish engineering company ABB and the UAE Insurance Authority.

Rolls-Royce will also reportedly soon become an HQ tenant. With the new tenants, HQ is about 60 per cent leased, property agents say.

Last September, Aldar welcomed its first tenants for Al Bandar, the first residential project to be opened at Al Raha Beach. Ultimately, the 10km-long coastal Al Raha Beach project is planned to house about 120,000 residents.