(ABU DHABI) – The Abu Dhabi office of Hines, the international real estate firm, along with Abu Dhabi National Property Company PJSC (ADNP), the real estate arm and subsidiary of the National Bank of Abu Dhabi (NBAD), announced at the recent Abu Dhabi Investment Forum in London, the formation of a strategic alliance to become the UAE’s premier commercial and mixed-use property manager for select real estate projects in the Middle East.
Hines/ADNP will bring a world-class property management standard to the region, initially targeting commercial real estate in Abu Dhabi and Dubai to meet the high demand for professional property management in the UAE and other GCC countries. The alliance will deliver a full range of value-creating property management services at the strategic, tactical and operational levels to institutional owners, high-net-worth individuals and banks involved in real estate.
ADNP is one of the primary real estate property management companies in Abu Dhabi, with a current portfolio of over 8,000 units under management. In addition to providing first-class property management services, ADNP undertakes extensive in-house and external real estate valuation and advisory services.
Hines has managed investment-grade properties for more than half a century and currently is responsible for more than 11,000,000 square meters of property around the world.
“ADNP is very keen on working in partnership with the best-in-class, and in this regard we are delighted to have Hines, a prestigious name in property management, as a partner in this new initiative," said ADNP General Manager Graham Hallett.
“The combination of ADNP’s extensive local market expertise and Hines’s execution and operating track record will undoubtedly result in superior asset performance. Institutional owners are looking for ways to mitigate risk while adding value to their assets, and we intend to provide a menu of effective solutions,” he added.
“The guiding principles of our platform are quality, integrity and sustainability. We want to be the best-in-class ‘one stop shop’ for real estate owners. Better management results in higher tenant satisfaction which directly affects occupancy and long-term asset value,” said Jurgen Herre, managing director of Hines’ MENA Region. "We are proud that we can provide our experience and international track record to the urban fabric and economy of Abu Dhabi, and can contribute to transforming the 2030 plan into reality," he added.
Hines/ADNP will soon officially announce their first engagement.
Abu Dhabi National Property Company PJSC (ADNP), a subsidiary of the National Bank of Abu Dhabi (NBAD), is one of the primary real estate property management organizations in Abu Dhabi, with a current portfolio of over 8,000 units under management. In addition to providing first-class property management services, ADNP undertakes extensive in-house and external real estate valuation and advisory services. ADNP will broaden its real estate services to provide added value across the whole real estate property life cycle.
The National Bank of Abu Dhabi (NBAD), the number one bank in the UAE, was incorporated in 1968. NBAD has a network of 90 branches in the UAE in addition to cash offices that are spread out at remote locations to provide banking services to customers.
The branch network is widened further with over 300 ATMs through which customers perform a variety of transactions.
NBAD’s overseas network stretches from Oman, Kuwait and Bahrain in the GCC, Egypt, Libya, and Sudan in Africa, London, Paris and Geneva in Europe to Washington DC in the USA.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to fund management, brokerage, leasing, property management businesses and private banking.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,111 properties representing more than 449 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $22.9 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM in the United Kingdom, France’s Haute Qualité Environnementale and with the German Sustainable Building Council. Visit www.hines.com for more information.