Not everybody is losing confidence in London as a financial centre and business hub. Abu Dhabi National Exhibitions Company (ADNEC) inaugurates today the £165 million (Dh901m) extension of the ExCeL London exhibition building in the Docklands area. From Abu Dhabi to London and beyond, the company aims to grow in the multibillion-dollar global conferences and exhibitions industry.
"We are continuing to look at opportunities to expand," said Paul Vincent, the marketing director at ADNEC. ADNEC acquired ExCeL London for Dh2.3 billion (US$626.1m) in May 2008. Its exhibition centre is now the largest in London after the expansion by 50 per cent. Kevin Murphy, the chief executive officer of ExCeL London, said the group had "more ambitions to extend our reach in this area of London. We're in serious discussions now with the London Development Agency, the Greater London Authority and the local authority to do far more." The exhibitions and conference sector is lucrative as business tourists are estimated to spend at least three times as much as the average leisure tourist.
ADNEC is also considering opportunities to branch out further, particularly in strong emerging markets such as India and central Asia. The ExCeL building is to be an important venue for the London 2012 Olympics. It is scheduled to host the most activities of any site with seven, including boxing, wrestling, table tennis, judo and fencing. "Barcelona, Vienna, Paris, are all dominant cities that have good convention offerings and until we built phase two, London didn't have a venue that could compete with that in terms of facilities and in that short period we've won 10 major conventions out of those European destinations," Mr Murphy said.
The extension of the centre, part of which is known as ICC London, includes a new auditorium for up to 5,000 delegates and a vast banqueting hall. The exhibition company recently announced a £48m Aloft hotel was to open at the exhibition centre at the end of next year, which would be the first hotel under the brand in the UK. ADNEC is also developing the Dh3.5bn Al Ain Convention Centre district, which will have meeting rooms, hotels, as well as residential and commercial buildings.
The company, which owns and manages the Abu Dhabi National Exhibition Centre, is also developing the Dh8bn Capital Centre project in the emirate, which includes the leaning Capital Gate building. rbundhun@thenational.ae
