In a significant collaboration between UK firms Carillion and
Zaha Hadid Architects, and leading UAE-based environmental
management company Bee’ah, support from UK Export Finance
(UKEF) has helped secure a
contract to build Bee’ah’s new headquarters in Sharjah, UAE,
worth tens of millions of pounds.
Bee’ah’s headquarters was designed by the late Dame Zaha Hadid,
the world-renowned British architect. It will be built by
Carillion and will be the first building of its kind in the city
of Sharjah to be powered entirely by renewable and recoverable
energy sources, whilst utilising recycled materials in its
construction.
International Trade Secretary said:
Our support to help Carillion secure this contract shows the
UK’s global leadership in sustainable engineering, and our
pioneering expertise in developing smart cities and green
buildings for the future. The UAE is a key partner in the
region and 5,000 UK companies work in there.
Through UKEF, the
government is ensuring that British firms can be the first
choice to support the country’s ambitions.
The headquarters will be powered by low- and zero-carbon
sources, including solar power and waste-to-energy and will be
one of the most advanced buildings in the region. Using British
architectural and construction expertise, the design has been
developed to use natural light and temperature management
systems where possible.
Zafar Khan, Group Finance Director, Carillion, said:
This contract cements Carillion’s position as a market-leader
in the Middle East, as well as our credentials in sustainable
construction. Our ability to offer our customers in the region
the support of UK Export Finance is an invaluable asset, making
our bids more attractive and helping us win contracts in a
competitive global marketplace.
HE Salim bin Mohamed Al Owais, Chairman of Bee’ah, said:
As pioneers in environmental sustainability in the Middle East,
Bee’ah is proud of our international alliances and the
partnerships we have forged to advance our ambitious strategic
goals. This agreement is a significant moment in the history of
the region. It demonstrates Bee’ah’s dedication and commitment
to delivering on promises to the people of the UAE by providing
tangible solutions to the greatest environmental challenges
that face modern civilisation.
The headquarters is expected to be operational by the end of
2018, moving towards the major milestone of being powered by 100%
renewable energy by 2021.
The financing deal provides for both the construction and design
of Bee’ah’s new headquarters; UKEF will support the Carillion
and Zaha Hadid contracts under its Direct Lending Facility. HSBC
Bank Middle East Ltd has acted as arranger on the transaction,
and HSBC Bank Plc is the agent.
Notes to editors:
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The construction phase of the project is expected to last 30
months.
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The Department for International Trade is responsible for
promoting British trade across the world and ensuring the UK
takes advantage of the huge opportunities open to us.
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UK Export
Finance is the UK’s export credit agency and a
government department, working alongside the Department for
International Trade as an integral part of its strategy and
operations.
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It exists to ensure that no viable UK export should fail for
want of finance or insurance from the private market. It
provides finance and insurance to help exporters win, fulfil
and ensure they get paid for export contracts.
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Sectors in which UKEF has supported exports
include: aerospace, construction, oil and gas, mining and
metals, petrochemicals, telecommunications, and transport.
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UKEF has a
regional network of 24 export finance
managers supporting export businesses.
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UKEF supports
exporters with a range of products that include:
- Bond insurance policy
- Bond support scheme
- Buyer & supplier credit financing facility
- Direct lending facility
- Export insurance policy
- Export refinancing facility
- Export working capital scheme
- Letter of credit guarantee scheme
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Find the latest information on UKEF’s country cover
positions
- Bee’ah, headquartered in the Emirate of Sharjah, is an
integrated environmental and waste management company, founded in
2007, through an Emiri decree by His Highness Sheikh Dr Sultan
Bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler
of Sharjah, as a public private partnership (PPP) with the
Sharjah City Municipality.
