Emirates Development Bank taps CBRE for sale of former headquarters

Emirates Development Bank has appointed CBRE as the exclusive selling agent of its former office headquarters in Abu Dhabi and Dubai.

Commenting on the prestigious mandate, Esam Sultan, Head of Residential for the UAE within the Advisory & Transactions practice, said: “We are excited to support Emirates Development Bank with the sale of these assets.”

“Their former headquarters are well-known landmarks in strategic locations and with very few prime office buildings available in the UAE, CBRE anticipates that the properties will attract the interest of a great mix of regional and multi-national parties.”

The former headquarters building of Emirates Development Bank in Dubai is located in Deira City Centre’s office precinct, providing 90,000 sq. ft. of Grade A office space across 11 floors. The building offers large floor plates of up to 10,500 sq. ft. with efficient layouts and floor to ceiling windows.

The other office component in Dubai comprises of 4 floors in the Emirates Development Bank building located in Al Garhoud, providing 45,000 sq. ft. of Grade A office space within close distance of Dubai Festival City and Dubai International Airport.

Meanwhile, in Abu Dhabi, the bank’s former headquarters building is located in the Al Nahyan office district. The office sits on a 9,000 sq. ft plot arranged over 6 floors, of which 2 are fully fitted and the remaining 4 are shell and core, providing A Grade office space in a central location in the UAE capital city.

Last year, CBRE was named one of the Middle East’s leading real estate consultancies by ConsultancyME.