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Department of Finance- Abu Dhabi renews buildings contract with ADCB unit.

Department of Finance - Abu Dhabi (DoF) has announced the renewal of the management agreement signed with Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank.

The announcement was made during a visit by HE Hamad Al Hurr Al Suwaidi, Chairman of the Department of Finance to the Abu Dhabi Commercial Properties' Headquarters. The renewal of the contract aims to promote further stability across the Abu Dhabi property market, and overall economy, by ensuring first-class services for both commercial and residential buildings and their various stakeholders.

Under an agreement signed with the Department of Finance - Abu Dhabi in April 2007, the bank was entrusted with responsibility over the Commercial Buildings Management, formally known as the Department of Social Services and Commercial Buildings "Khalifa Committee". The management of such buildings was in-turn assigned to the bank's subsidiary Abu Dhabi Commercial Properties (ADCP).

The commercial buildings managed are located in the capital Abu Dhabi, Al Ain City, Western Region, Sila and Delma Island.

Ala'a Eraiqat, CEO of Abu Dhabi Commercial Bank and Chairman of the Board of Directors of Abu Dhabi Commercial Properties commented on the agreement renewal saying: "Abu Dhabi Commercial Properties (ADCP) and Abu Dhabi Commercial Engineering Services (ADCE) maintain a solid track record when it comes to meeting clients' needs. From facilities management and tenant relationship management and provisioning of diversified services, to liaisons with the specialized official authorities for water and electricity and telecommunication services, contracts documentation Tawtheeq and permissions to the vehicles Mawaqif, our seamless one-stop shop approach puts us in pole-position."

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Publication:CPI Financial
Geographic Code:7UNIT
Date:Feb 1, 2014
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