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3rd Party: 19 Jun 2024
The Executive Centre (TEC), Asia's largest premium flexible workspace provider, has announced the opening of a new centre at Level 7 of Al Maryah Tower at Abu Dhabi Global Market (ADGM), the international financial centre (IFC) of the capital city of the UAE and one of the most prestigious and dynamic business districts in the region. Backed by robust and resilient demand in one of the fastest-growing markets, the company is expanding its footprint in the region with the addition of over 17,500 sq.ft. at an investment of AED 10,000,000.
TEC's workspaces are designed to cater to the needs of businesses in the region, providing exceptional and customized solutions that address the evolving demands of the market. The new bespoke centre features 291 spacious workstations designed to provide premium ergonomic flexible workspaces, with an exclusive member lounge and cafe.
TEC has established a strong presence in the United Arab Emirates (UAE), with multiple locations across Dubai and Abu Dhabi. In 2018, the company made its foray into the region with its first centre at the One Central, located in Dubai's Central Business District, at Dubai World Trade Centre (DWTC). In 2023, TEC enhanced its presence in the region with the launch of its first centre in Abu Dhabi, at Al Sila Towers in ADGM, now operating at 100% occupancy. With the addition of the new centre at Al Maryah Tower, the company now has a total of over 140,000 sq. ft. live in UAE, with an aim to add 60,000 sq. ft. of flexi workspace over the next few years.
Commenting on this strategic announcement, Managing Director of UAE, Saudi Arabia, and North India, at TEC, Rajat Kapur, said, “Abu Dhabi's vibrant market is a beacon of opportunity, driving companies towards flexible workspaces for agility and growth. Our expansion in this dynamic landscape signifies confidence in its potential. Abu Dhabi Global Market offers an ideal nexus for our operations, with its thriving retail, F&B scene, and exceptional commercial real estate. Our journey here has been remarkable, with Al Sila Tower serving as a testament to our success at 100% occupancy. Now, as we unveil a new chapter at Al Maryah Tower, we're poised to elevate experiences and empower businesses in this thriving ecosystem.”
ADGM welcomed TEC expansion to Al Maryah Tower, a step that further showcase the business-friendly environment that ADGM offers by combining effective regulation with attractive incentives, for businesses and investors seeking stability, growth opportunities, access to capital, and access to regional and global markets.
In 2023, TEC expanded its footprint exponentially with an addition of 26 new Centres across its network globally, marking a total of over 200 centres across 34 cities. Driven by strong client demand, South Asia and the Middle East saw the most significant growth with 12 new Centre openings, effectively doubling TEC's footprint in the region since the pre-pandemic period. With its strong financial results and a proven business model, The Executive Centre is poised to maintain its leadership in the premium workspace sector as it celebrates 30 years of excellence this year.
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