Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, chairman of the Mohammed Bin Rashid Al Maktoum Knowledge Foundation, led the inauguration of HSBC Tower

Banking giant HSBC has officially opened its new $250 million headquarters in Downtown Dubai to house 3,000 employees.

Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, chairman of the Mohammed Bin Rashid Al Maktoum Knowledge Foundation, led the inauguration in a ceremony to launch one of the world’s most sustainable buildings.

HSBC Tower accommodates innovation labs, a university, training studios and collaboration hubs. It also houses 236,000 square feet of agile workspace and fosters the atmosphere of innovation.

The new building also includes a gym, studio space for yoga classes, a reflection room, an outdoor terrace and a number of vibrant coffee shops and restaurants.

“Whether that’s reinventing customer experience, creating a more agile working environment, promoting smart, efficient and sustainable ways of doing business, and innovating to deliver products and services that meet constantly evolving market needs, this building helps make it all possible,” said Abdulfattah Sharaf, CEO of HSBC UAE and head of international of HSBC Bank Middle East.

He said since opening its first branch in Dubai in 1946, the very first bank in what subsequently became the UAE, HSBC has played a significant role in the country’s economic and social development.

HSBC Group chief executive, John Flint, said: “In our global strategy announced in June 2018 we identified the UAE as one of our eight scale markets including Hong Kong and the UK.

“Markets like the UAE represent HSBC’s future, where we want to invest and grow, bringing more of HSBC to more people because we see opportunity here, not just for us, but for our customers all over the world. We firmly believe the economic miracle that we’ve seen here is just the start of something much, much bigger,” Flint added.

Globally, HSBC has unveiled plans to invest $15-17 billion between now and 2020 in a new push for growth, with technology one of its primary focuses.