Ali Bin Harmal: "ADNEC has achieved significant outcomes through ExCel London Investments"

Abu Dhabi: Ali Saeed bin Harmal, Managing Director of the Abu Dhabi National Exhibitions Company (ADNEC), has said in a statement marking the fifth anniversary of the acquisition of ExCel London, that Abu Dhabi has reaped many key benefits through its acquisition of ExCel London On what makes ExCel London an ideal investment for ADNEC ExCel London has carved a niche for itself as an important exhibition venue in Europe. It is located in one of the most vibrant cities of the world commercially, politically and culturally. More importantly, through the acquisition of the ExCel London, Abu Dhabi has reaped many key benefits which are increasingly cascading an impact in different areas of the Abu Dhabi economy. From a financial point of view, I think ExCeL London is a solid investment for Abu Dhabi in the long term and will bring home huge returns for the emirate. The acquisition deal was completed at a good price and at the right time. It has also provided tremendous avenues for future revenues for the Abu Dhabi National Exhibition Centre. ADNEC's investment in ExCel London has offered us a great opportunity to contribute to the economic development and cultural promotion of the emirate across the world in line with our strategic goals to conform to the Abu Dhabi government's vision for 2030. I would like to underline that 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 the Abu Dhabi National Exhibition Centre. This will indirectly help the emirate to reinforce its leading position as a major international hub for exhibitions and live events in line with the Abu Dhabi Economic Vision 2030. 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. There has been a continuous exchange of best practices between ExCel London and ADNEC over the last five years with the support of the Chairman and Members of the Board of Directors. The ADNEC investments in the ExCel London premises and infrastructure have given Abu Dhabi an opportunity not only to participate in the 2012 London Olympics, but also to make considerable returns as ExCeL London was one the most important venues that hosted the Olympic Games following the main Olympic Stadium. The ExCel facilities hosted seven events during the Olympic Games and six events during the Paralympic sports in summer 2012. ExCel London today is among the most prominent event venues in the world. Given the exponential growth seen by the facility in the last few years, I am confident that it will continue to achieve greater returns on investment both economically and financially in the future too. The exhibition centre has already proven to be a valuable addition to ADNEC's portfolio by hosting a number of key international events. In addition, the Abu Dhabi National Exhibition Centre and ExCel London have won several key industry distinctions and awards. The Group will benefit from the exchange of best practices between the two award-winning venues and will aim to leverage these strengths to accomplish more significant wins in the years to come.'' - Emirates News Agency, WAM –