Abu Dhabi National Exhibitions Company (ADNEC) announced the handover of the first plot of Capital Centre land to Sultan Bin Rashed Group, marking a significant milestone in the project’s year long history. The handover took place on Capital Centre soil at ADNEC plot C.07.

Opening in early 2010, the development will be a striking tower of serviced hotel apartments with 207 rooms, featuring state-of-the-art facilities.

Commenting on the land handover, His Excellency Ahmad Humaid Al Mazrouie, Managing Director of Abu Dhabi National Exhibitions Company said: “This move marks the beginning of an exciting new chapter in the short history of Capital Centre. When this project was launched just over a year ago, we had a vision of attracting world-class developers who would transform this site into a thriving mixed use development, adjacent to the state-of-the-art exhibition facilities. We are honoured to handover this site to H.E. Sultan Saeed Bin Rashed Al Dhaheri and look forward to watching its magnificent building rise from the ground.”

Mr. Saeed Sultan Bin Rashed Al Dhaheri added: “Capital Centre is one of the most significant economic development projects in the UAE. The success of the Abu Dhabi National Exhibition Centre in attracting visitors to Abu Dhabi has created a new and exciting market which we are very excited to be part of. We are delighted to be the first to receive one of the 24 plots of land. I would like to thank the Chairman, the Board and the Management of ADNEC for this visionary project. With the support from the relevant Abu Dhabi authorities, we look forward to delivering an exciting serviced hotel development by early 2010.”

Mr Sanjay Tanna, Director of Business Development of Abu Dhabi National Exhibitions Company: “Central to the strategy of the development of Capital Centre has been to attract the very best developers who share our vision of creating the world’s first fully networked exhibition lifestyle destination. From day one, Mr. Saeed Al Dhaheri understood and shared this vision. We at ADNEC are thrilled that we’ve delivered on schedule and received 100% customer satisfaction in the process.”

The remaining 23 plots of Capital Centre land are to be handed over within the month of February, to investors.