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The building’s owners, Abu Dhabi’s largest developer, Aldar Properties, has said that the tower will be available to tenants to start fitting out their new office space in November. Trust Tower will officially open in mid-2012.
Trust Tower will offer 72,000 square metres of office space spread over 59 storeys, making it one of the tallest buildings in the city.
Rami Nasser, Director of Sales and Commercial Leasing said: “Revenue from the tower will start reflecting on Aldar’s balance sheet from the second quarter of 2012.”
Trust Tower is a part of Aldar’s broader AED 5 billion Central Development project in the heart of downtown Abu Dhabi.
The whole project is forecast to be finished by 2014. Thus far Aldar has claimed that it has reduced the cost of the project.
Patrick Bell, Aldar’s Senior Development Manager at the company stated: “We have optimised costs where we can, on materials being used.”
However, Bell would not be drawn on exactly how much estimates for the project had come down.
Another Aldar executive said of the project: “The Souq has been completed. Trust Tower will be completed in the second quarter of 2012, the emporium between the second and third quarters of next year, Domain — a residential tower by the end of 2012.
“Following that, the hotels – a four-star and a five-star hotel within 2014.”
According to figures from commercial property consultant Cushman & Wakefield property rents in Abu Dhabi fell by approximately 29 per cent in the first quarter of this year compared to the same period last year.
Editor’s notes: The Trust Tower was completed in the second quarter of 2012 and was officially opened in 2013. The offices are leased by the World Trade Centers Association.
The complex that the tower sits within, which includes the Burj Mohammed bin Rashid residential tower, a mall, a souk and a Courtyard by Marriott hotel, is called the World Trade Center Abu Dhabi.
It was reported in February 2023 that the Abu Dhabi office space market was showing signs of recovery following the pandemic.