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• 拢31 million loan from UK Export Finance enables the completion of Bee鈥檃h鈥檚 headquarters 鈥� an award-winning environmental management company in the UAE
• British-designed building is intended to transform attitudes and behaviours towards the environment in the region
• Announcement comes during the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi

UK Prime Minister Boris Johnson has announced today (Thursday, September 16) that a 拢31 million clean growth loan from UK Export Finance (UKEF) will help finish the new headquarters of one of the UAE鈥檚 leading environmental management firms.

Announced alongside the 鈥楶artnership of the Future鈥� during His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, visit to the UK, the project is a shining example of British innovation in sustainable construction within the UAE.

The new green building, designed by late British architect Dame Zaha Hadid, founder of Zaha Hadid Architects, will be entirely powered by renewable energy generated from its solar panels and waste-to-energy systems and be one of the most sophisticated 鈥榮mart offices鈥� in the world.

Computer generated image render of planned interior of Bee鈥檃h headquarters.

It鈥檚 the first clean growth loan issued by UKEF, the UK鈥檚 export credit agency, in the Middle East as the department continues to ramp up its green financing. The support comes from UKEF鈥檚 Clean Growth Direct Lending Facility, which dedicates 拢2 billion of funding for clean growth and renewable energy projects, and was facilitated by HSBC.

UKEF鈥檚 backing for the project sees around one-third of the value of this green contract being delivered by UK companies, including design, engineering and smart office services, delivering on the Prime Minister鈥檚 Ten Point Plan to grow Britain鈥檚 clean growth sector.

This support enhances the original UKEF loan provided to Bee鈥檃h after the building scope was expanded and ensures increased procurement from the UK. The building now includes new interalia office-of-the-future technologies that makes it one of the first artificial intelligence integrated buildings of its kind in the world, a project that was already recognized with the Digie Award for 鈥淢ost Intelligent Building 鈥� Corporate Headquarters鈥�.

Computer generated image render of planned interior of Bee鈥檃h headquarters.

Louis Taylor, Chief Executive of UK Export Finance, said:

With COP26 just around the corner, UKEF is opening new frontiers for green exporters. This building will be a beacon for the possibilities offered by green technologies and is a shining example of the expertise of British firms like Zaha Hadid Architects.

I am delighted that this landmark deal is funding sustainable infrastructure in the UAE and reflects both countries鈥� shared commitment to protecting the environment.

Salim Bin Mohammed Al Owais, Chairman of Bee鈥檃h, said:

As the Gulf region鈥檚 leader in sustainability, we are proud to be part of the new green finance deal that will further our sustainability ambitions in the region and bring our great nations closer together. The Bee鈥檃h headquarters will stand as the manifestation of our two critical pillars of sustainability and digitalisation, as we strive towards creating a smarter, greener future for our region.

Sara Sheikh Akbari, Associate Director at Zaha Hadid Architects, said:

The new Bee鈥檃h headquarters incorporates the highest standards of design to create a building where sustainability and technology work together to drive positive change. We are proud that Bee鈥檃h鈥檚 new headquarters will achieve LEED Platinum certification 鈥� the highest possible rating under the internationally recognised US Green Building Council standards.

Abdulfattah Sharaf, HSBC UAE CEO and Head of International, said:

HSBC is committed to the transition to a global net zero economy, not just by playing our part, but by helping to lead it. We鈥檙e doing this across the bank, supporting our customers in their own transitions, mobilising finance and accelerating innovation, and working in partnership with our customers to realise the opportunity to build a more sustainable, resilient, and prosperous future.

Background

About Bee鈥檃h

An innovation leader鈥痑nd鈥痑鈥痯ioneering force for sustainable solutions in the Middle East, Bee鈥檃h is鈥痑鈥痯ublic-private partnership company that was founded in 2007.鈥疻ith ventures in industries ranging from Waste Management to Environmental Consulting, Renewable Energy, Technology, Sustainable Transportation, and Training & Development, Bee鈥檃h is creating鈥痑鈥痓etter quality of life for鈥痑ll cities鈥痑nd communities in the region.

Bee鈥檃h has executed a comprehensive strategy focused on sustainability and digitalisation, which has reaped rich benefits in the form of the region鈥檚 highest waste diversion rates, and the GCC鈥檚 first waste-to-energy plant. Bee鈥檃h has supported the region鈥檚 agenda for a circular economy and personifies the UAE鈥檚 ambitions in leading the dialogue surrounding sustainability in the MENA region.鈥�

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About UK Export Finance

UK Export Finance is the UK鈥檚 export credit agency and a government department, working alongside the Department for International Trade as an integral part of its strategy and operations.

Established in 1919, it exists to ensure that no viable UK export should fail for a lack of finance from the private market. It provides finance and insurance to help exporters win, fulfil and get paid for export contracts.

Last year, UKEF launched a 拢2 billion direct lending facility for clean growth and renewable energy projects. Eligibility for this is based upon the core indicators of the ICMA Green Bond Principles.

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