ADNEC Completes Acquisition of Business Design Centre in London
Abu Dhabi National Exhibitions Centre, a wholly owned subsidiary of Modon Holding, on Wednesday has completed the acquisition of Business Design Centre (BDC), one of the leading trade and exhibition venues located in London, UK, through its 100% owned subsidiary ExCel London.
As part of Excel’s ongoing investment in the UK MICE industry, this acquisition ensures a long-term commitment to one of London’s most historic and popular MICE venues. Originally the Royal Agricultural Hall dating back to 1862, BDC, a Grade II listed venue now spans a 4.5-acre freehold estate and hosts a wide array of leading events, awards and product launches as well as long-standing shows such as the London Art Fair, HIX and the Surface Design Show.
With over 130 events and more than 900,000 visitors a year, the North London venue is a multiple award winner and the current Exhibition News Venue of the Year. In addition to its 6,000 sq. m. of dedicated event and conference space, BDC also provides over 12,500 sq. m. of high-quality, let-able space for showrooms, offices, and serviced offices.
The estate also includes the freehold title to the Hilton Hotel land located in Islington, London. This move highlights Modon Holding and ADNEC Group’s commitment to investing in and supporting the growth of the global events industry.
With its strong reputation and longterm heritage, BDC will provide ADNEC Group and Excel with an ideal platform to enhance its presence in this sector, Modon said in a regulatory filing with the Abu Dhabi Securities Exchange (ADX) on Wednesday.
Since ADNEC Group’s acquisition of Excel in 2008, the venue has continued to expand, operating 125,000 sq. m. of MICE space and becoming London’s first International Convention Centre in 2010. With the most recent expansion of 25,000 sq. m., Excel has become the largest integrated conference and exhibitions venue in Europe. Excel also houses Immerse LDN, the UK’s largest immersive entertainment district, which opened recently.
Global MICE Industry Leader
Modon Holding Group CEO Bill O’Regan said that the acquisition of BDC reinforced their leadership position in the global exhibitions and events industry, diversifying their portfolio with exceptional assets in our key markets of focus.
“We are committed to investing in ways that create lasting shareholder value while expanding Modon Holding’s global presence,” he added.
ADNEC Group’s Managing Director and CEO Humaid Matar Al Dhaheri said that the acquisition of BDC reaffirmed their commitment to enriching the services ADNEC offered to its partners and event organisers.
“By expanding our portfolio of event centres to four, we are not only enhancing our competitiveness, but also diversifying our venue offerings and underlining the Group’s commitment to fostering sustainable business growth. This contributes significantly to Abu Dhabi’s economic prosperity and diversification efforts and bolsters the growth of non-oil sectors,” he added.
