Al Hilal Bank, a UAE-government owned Islamic bank, has appointed John Buck International (JBI), a leading real estate services company, to coordinate and manage the development of a 24-storey commercial tower for Al Hilal.

The commercial plot is located on Sowwah Island, the core of Abu Dhabi's new central business district (CBD). Sowwah Island is a strategic project of Mubadala Development Company (Mubadala) being master planned and developed by Mubadala Real Estate and Hospitality.

Al Hilal purchased the 4,850 sq m plot from Mubadala in July.

According to the development management services agreement signed by Al Hilal and JBI, John Buck International will be Al Hilal's development manager, and will steer all aspects of the project through the design and construction processes.

The first phase of the design process commences immediately. Occupancy is scheduled to occur in 2014 for what will be an iconic addition to Abu Dhabi's skyline.

'John Buck International is delighted to be the Development Manager of this very prestigious project for Al Hilal Bank,” said Kevin P Morgan, deputy chief executive officer at JBI.

“Al Hilal's dedication to premium quality is well aligned with our philosophy towards delivering the highest quality real estate services for esteemed clients in Abu Dhabi.'

He added: 'We are committed to this important project and are confident that it will be a perfect complement to the quality of development underway across Sowwah Island.'

Mohamed Jamil Berro, chief executive officer of Al Hilal Bank, said: 'As one of the flagship projects in Abu Dhabi's new centre of commerce on Sowwah Island, this project has to be delivered and managed to the highest specifications.”

“JBI's expertise in delivering premium, efficient and sustainable commercial real estate is second to none and we are pleased to have them as development manager of this strategic project,” he added.

The tower will be located adjacent to the prestigious Sowwah Square commercial development and multi-specialty hospital Cleveland Clinic Abu Dhabi.

The development of Al Hilal's commercial tower will join other components of Sowwah Island's first phase of development, including Sowwah Square, two five-star hotels - Rosewood Abu Dhabi and Viceroy Abu Dhabi; Cleveland Clinic Abu Dhabi, a commercial tower by National Bank of Abu Dhabi, and extensive infrastructure works. – TradeArabia News Service