The acquisition of the ExCel London exhibition centre by Abu Dhabi National Exhibition Centre (Adnec) has been one of the most important investments made in recent years, said Adnec chairman’s Sheikh Sultan bin Tahnoon.
Sheikh Tahnoon said yesterday the acquisition of ExCel had made Adnec an internationally recognised company, and had boosted Abu Dhabi’s efforts to diversify its economy.
“The acquisition of Excel London has supported Abu Dhabi’s growth as a business tourism destination by developing our local expertise and further extending awareness of Abu Dhabi as a destination to a global audience,” he said.
“With business tourism, and the entire events and exhibition industry highlighted as a key driver of economic development in the UAE, this investment is supporting our diversification strategy in line with the 2030 vision.”
The acquisition of ExCel was a “solid investment for Abu Dhabi, and one that would bring home huge returns for the emirate”, said Adnec’s managing director Ali Saeed bin Harmal.
“The acquisition deal was completed at a good price and at the right time. It has also provided tremendous avenues for future revenues for Adnec,” he said.
Adnec subsequently ploughed Dh900 million into the venue in the form of a new international convention centre, inaugurated in 2010.
Adnec’s investment in ExCel had helped to transform the venue into the premier exhibition centre in the United Kingdom by number of visitors and exhibitions, according to Dominic Jermey, the UK’s ambassador to the UAE.
“Their investment also put ExCeL right at the heart of the 2012 London Olympics, which was extremely prestigious for both Adnec and for ExCeL and also very good for the brand of the UAE,” he said.
“This is a strong example of an investment four or five years ago that has blossomed into an important part of the bilateral business relationship between the UK and the UAE.”
The opening of the International Conference Centre (ICC) has had a dramatic effect on ExCel’s business and London’s status as an international conference venue.
Subsequent to the ICC’s opening, London has risen to sixth place in the International Congress and Convention Association’s global rankings.
The number of visitors to ExCel has grown by 177 per cent since 2008, said Jeremy Rees, ExCel’s executive director.
The number of exhibitions has doubled and the number of conferences and other events has increased 48 per cent since 2008.
“The most important return on the ExCel London investment was the opportunity to promote Abu Dhabi as a global hub for business and leisure, and to be known by its affiliation to Adnec,” said Mr bin Harmal.
“The partnership between the two centres also provides a steady flow of international events and fairs for Adnec, as the exhibitions industry is adopting an increasingly global vision with each passing day,” he said.
The company has also leveraged its investment in ExCel to offer a training programme in the London centre for Emirati employees.
To date, 23 employees have undergone training in London.
“This development of human capital is really important for Adnec as we continue to improve as an international destination for business,” said Sheikh Tahnoon.
“These employees currently make up the backbone of operations and management at both the Abu Dhabi National Exhibition Centre and the Al Ain Convention Centre.”
jeverington@thenational.ae
