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HSBC moves Middle East management office to Dubai Internet City

HSBC Bank Middle East has leased land from Dubai Internet City (DIC) to house its Middle East Management Office and a number of support departments.

HSBC Bank Middle East has leased land from Dubai Internet City (DIC) to house its Middle East Management Office and a number of support departments. The new premises will help in co-coordinating HSBC’s resources and operations in the Middle East region. Abdul Jalil Yousuf Darwish, vice-chairman of HSBC Bank Middle East, and Ahmad Bin Byat, CEI of Dubai Internet City signed the lease agreement today.

“Our business is growing throughout the region, and we are introducing new services and business lines on a regular basis. Examples in the last few months have been the Financial Planning Service, HSBC Amanah Finance, a new private equity team in HSBC Financial Services Middle East Limited, and the Air Miles joint venture with Spinneys and Rewards Management Middle East Limited,” said Darwish. “We simply need more space. In DIC we will have state-of –the-art infrastructure and a splendid fit-for-purpose facility. We are also conscious of the increasing amount of commerce which is being established in and around DIC and we feel it is important to be in a position to support it,” added Darwish.

“Partnering a leading global organisation such as HSBC is integral to our strategy of ensuring the pre-eminence of Dubai Internet City as the new economic hub of the region. HSBC’s choice of Dubai Internet City as its business and communications hub for the region validates our efforts,” said Ahmad Bin Byat, chief executive of DIC. “Their presence will enhance the pool of resources, knowledge and ideas in the Dubai Internet City community. We look forward to providing HSBC with the infrastructure, services and operational support to enhance its business,” he added. The new office will be completed by early 2003 and will house some 400 staff.

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