HSBC plans new middle east headquarters

Dubai

HSBC will start building a new Middle East headquarters near the world’s tallest tower in Dubai as the lender aims to combine staff from three other locations in the city.

Bloomberg News reports that Abu Dhabi developer Gulf Resources Development & Investment will construct the tower and sell it to HSBC Bank Middle East for about $250m upon completion in 2017, according to Jim Osborne, an official at the building company.

GRDI recently sold a building it constructed for Standard Chartered to Kuwait’s sovereign wealth fund. HSBC confirmed the plans in a statement Sunday.

HSBC, which first opened in Dubai in 1946, will start moving some of its 4,000 workers to the 20-storey building in 2018. The bank has staff spread across four locations including a building in Bur Dubai and offices in Emaar Square and Lufthansa building.

To access the complete Bloomberg News article hit the link below:

HSBC Plans New Mideast Headquarters Near World's Tallest Tower

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