Standing tall at 22 stories, the Islamabad Stock Exchange Tower is a majestic landmark in the centre of the capital city. More than just a physical structure, the tower represents the aspirations of Pakistan’s financial sector. Moreover, it portrays its commitment to innovation and its vision for a brighter economic future.
From its state-of-the-art facilities and services to its diverse tenant base, the ISE Tower is a thriving hub for financial activities. It provides a home for businesses, investors, and financial professionals from all over the country, and it serves as a gateway to the global financial markets.
But the ISE Tower is more than just a place to work. It is also a symbol of Pakistan’s growing economic prowess and its determination to become a leading player in the global financial landscape. The tower’s presence on Jinnah Avenue, alongside other iconic landmarks like the Ufone Tower and The Centaurus, is a testament to Pakistan’s ambition to become a modern and prosperous nation.
In this blog, Graana.com will explore the ISE Tower in more detail, examining its history, features, and significance. We will also look at some of the important offices that operate from the tower, and we will discuss the role that the ISE Tower plays in supporting Pakistan’s financial sector.
Overview
The Islamabad Stock Exchange Tower stands as the third tallest structure in Islamabad. It shares its location on Jinnah Avenue in the Blue Area with the city’s two tallest buildings. These are the Ufone Tower and The Centaurus. Its exterior is adorned with blue-tinted glass complemented by a robust grey framework, lending it a timeless aesthetic appeal that adds to its architectural grandeur.
Comprising two towers with an asymmetrical design, this building boasts a total of twenty-two stories. Interestingly, it doesn’t house a traditional trading floor but rather operates through digital trading methods.
Currently, the building is the headquarters for several prominent companies and airlines in Pakistan, including Air China Pakistan Office, Etihad Airlines Pakistan Office, and Air Blue Head Office. Other offices include OMV Pakistan Office and NEC (Worldwide) Pakistan, among others.
History
The Islamabad Stock Exchange (ISE) was established on October 25, 1989, as a guarantee-limited company within the Islamabad capital territory. Its primary objective was to develop a robust trading and settlement infrastructure, and an advanced information system, cultivate skilled resources, ensure accessibility, and create a fair and orderly marketplace that could rival the best in the world.
On January 7, 1992, it received its license as a stock exchange and commenced trading operations in July 1992.
In a significant transformation, the ISE underwent corporatization and demutualization on August 26, 2015, as assigned by the Stock Exchanges (Corporatization, Demutualization, and Integration) Act of 2012.
Consequently, its name was changed to Islamabad Stock Exchange Limited. Subsequently, on January 11, 2016, the Islamabad Stock Exchange merged with the Karachi Stock Exchange Limited, following the provisions of the Stock Exchanges (Corporatization, Demutualization, and Integration) Act of 2012, to form the Pakistan Stock Exchange Limited.
Features & Design
ISE embarked on the construction of a towering structure to meet the burgeoning demands of the stock exchange industry. With resilience against natural disasters like the 2005 Kashmir earthquake in mind, ISE meticulously designed a state-of-the-art building.
The ISE tower is an impressive 22 stories, ranking as the second tallest building in Islamabad, just behind the Telecom Tower. Covering an expansive area of 562,629 square feet (52,269.9 square metres), the building comprises three basement levels, a ground floor, and 18 additional floors.
The basements have the capacity to accommodate up to 300 cars concurrently, while also housing a plant room to meet the latest requirements for HVAC systems. The ground floor is dedicated to serving the needs of banks.
Each floor is equipped with six passenger lifts, one cargo lift, and three stairwells. Centralized cooling and heating systems ensure optimal comfort within the building. Additionally, the building is furnished with cutting-edge communication and electrical systems, and safety is paramount with a well-designed fire-fighting system and emergency exits in place.
Notably, the ISE Towers proudly became the first building in Islamabad to feature an LCD screen attached to its façade. The design of the ISE Towers was entrusted to NESPAK Pvt. Ltd., with construction carried out by Habib Rafiq Pvt. Ltd. Construction commenced in early 2006 and reached completion in April 2009, culminating in its inauguration by Prime Minister Syed Yousuf Raza Gilani on July 31, 2009.
Financial Activities
The Islamabad Stock Exchange Tower is not just a prominent architectural landmark but also a thriving hub for financial activities. Within its confines, it offers a wide range of facilities and services. These cater to the needs of businesses, investors, and financial professionals. Here’s an in-depth look at the facilities and services:
Office Spaces: The tower provides modern and well-equipped office spaces that are highly sought after by financial institutions, corporations, and businesses. These spaces are designed to meet the specific requirements of financial and investment firms.
Meeting and Conference Rooms: To facilitate corporate meetings, conferences, and seminars, the tower features state-of-the-art meeting and conference rooms. These spaces are equipped with advanced audiovisual technology to support presentations and discussions.
Banking Facilities: Recognizing the importance of banking services in the financial sector, the tower allocates space for banks. This not only serves the convenience of those working within the tower but also enhances accessibility to financial services for visitors.
Restaurants and Cafeterias: The tower includes dining establishments and cafeterias, allowing professionals to have a convenient place to dine and network during their busy workdays.
Parking: With three levels of basements dedicated to parking, the tower ensures ample parking space for employees and visitors, mitigating one of the common challenges in urban areas.
HVAC System: The tower incorporates a cutting-edge HVAC (Heating, Ventilation, and Air Conditioning) system to maintain a comfortable working environment, which is crucial for the efficiency of financial activities.
Other Important Offices in ISE Towers
The Islamabad Stock Exchange Tower hosts a diverse range of tenants and businesses, further solidifying its status as a financial hub:
- Air China Pakistan Office: Air China’s presence in the tower is a testament to its international connections, catering to the travel needs of those engaged in global financial transactions.
- Etihad Airlines Pakistan Office: Etihad Airlines’ office here facilitates travel for financial professionals and business executives connecting with international markets.
- OMV Pakistan Office: OMV, a leading energy company, operates from the tower, highlighting its importance as a hub for various sectors beyond finance.
- NEC (Worldwide) Pakistan: NEC’s presence signifies the integration of advanced technology into financial services, a critical aspect of modern finance.
- Air Blue Head Office: Air Blue, a prominent domestic airline, uses the tower as its head office, enhancing accessibility for travellers.
FAQs about the Islamabad Stock Exchange Tower
Q: What is the Islamabad Stock Exchange Tower?
A: The Islamabad Stock Exchange Tower is a 22-story building in Islamabad, Pakistan. It is the second tallest building in the city and serves as the headquarters of the Pakistan Stock Exchange. The tower also houses several other financial institutions and businesses.
Q: What are some of the features of the Islamabad Stock Exchange Tower?
A: The Islamabad Stock Exchange Tower is a modern building with several features that cater to the needs of the financial sector. These include:
- State-of-the-art office spaces
- Meeting and conference rooms
- Banking facilities
- Restaurants and cafeterias
- Parking
- HVAC system
Q: Who are some of the important tenants of the Islamabad Stock Exchange Tower?
A: Some of the important tenants of the Islamabad Stock Exchange Tower include:
- Air China Pakistan Office
- Etihad Airlines Pakistan Office
- OMV Pakistan Office
- NEC (Worldwide) Pakistan
- Air Blue Head Office
Q: What is the significance of the Islamabad Stock Exchange Tower?
A: The Islamabad Stock Exchange Tower is a significant landmark in Pakistan’s financial sector. It is a symbol of the country’s growing economic prowess and its ambition to become a leading player in the financial landscape.
The tower also plays a vital role in supporting the financial sector. They do this by providing a home for businesses, investors, and financial professionals.
Q: How can I visit the Islamabad Stock Exchange Tower?
A: The Islamabad Stock Exchange Tower is open to the public for tours. To book a tour, please contact the Pakistan Stock Exchange.
Q: What are some of the things I can see and do on a tour of the Islamabad Stock Exchange Tower?
A: On a tour of the Islamabad Stock Exchange Tower, you will see the trading floor, the boardroom, and other key areas of the building. You will also learn about the history and importance of the tower.
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