Adnec expects to draw in Dh30 billion in 10 years

ABU DHABI — The economic potential of the activities of the Abu Dhabi National Exhibition Company, or Adnec, as a venue operator and investment management firm, has been estimated at more than Dh30 billion over the next 10 years, a top official said.

By (Haseeb Haider)

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Published: Tue 14 Sep 2010, 10:55 PM

Last updated: Mon 6 Apr 2015, 11:49 AM

Ali Saeed bin Harmal Al Dhaheri, Adnec’s Managing Director, said that the company has completely transformed the Meeting, Incentives, Exhibition and Conference, or MICE, business scene in the emirate in the last four years by creating a whole new industry from scratches.

“From just 14 events at the old exhibition facilities in 2005, 119 events were organised at Adnec last year — an 800 per cent increase in just four years,” Al Dhaheri told Khaleej Times in an interview.

He gave an update on Adnec’s ongoing development projects and plans, saying all projects under construction are on track.

The Guinness record-holding Capital Gate tower, which slants 18 degrees westward, is slated for completion in the coming months, he said.

Al Dhaheri said that Adnec is master-developing the Dh8 billion Capital Centre, a micro-city adjoining the exhibition centre comprising 23 towers with seven hotels, commercial and residential multiplexes, and the Dh3.5 billion Al Ain Convention Centre.

Aside from those, the Adnec-owned ExCeL London — the UK capital’s largest exhibition venue — has just undergone a £165 million expansion with the exhibition company investing £50 million in building a new Aloft hotel at ExCeL, to be ready in time for the 2012 London Olympics.

Al Dhaheri said that seven new hotels have come on line in Abu Dhabi within the past six months and another 10 are due to open in the emirate this year, he said.

Abu Dhabi now boasts a wider-than-ever, state-of-the-art inventory of meetings facilities and a hotel room stock of 17,500, which is due to expand by a further 5,000 this year.

· haseeb@khaleejtimes.com



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