The local Al-Hilal Bank has received bids from contractors on 22 January for the contract to build its new headquarters building on Abu Dhabi’s Sowwah Island, which is being developed as a new financial centre for the emirate.

The tower will be built next to the Cleveland Clinic and Sowwah Square projects being developed by the island’s master developer Mubadala Development Company. The consultant for the Al-Hilal Bank building is US-based Goettsch Partners (MEED 9:12:11).

Al-Hilal Bank bought a 4,850-square-metre commercial plot from Mubadala in 2009. Other financial institutions that will have a presence on Sowwah Island include National Bank of Abu Dhabi (NBAD) and the Abu Dhabi Securities Exchange.