Abu Dhabi to rope in investors for community markets
Interested companies must be 100% owned by UAE nationals to participate in two tenders
Dubai: The Abu Dhabi Investment Office (ADIO), has partnered with Department of Municipalities and Transport (DMT) to launch 12 new community market projects in the emirate. These markets aim to enhance existing the quality of life for residents by creating destinations with retail, convenience and sports facilities, while offering long-term opportunities for investors in Abu Dhabi.
ADIO and DMT have invited qualified entities to participate in the next stage of the programme by collecting Requests for Qualifications (RfQ) for the development of the Yas Island Community Market and Al Aamerah Community Market.
Projects developed under Musataha agreements enable private sector investors to design, build and operate an asset on land owned by the government for a stipulated, period.
“Musataha agreements are an important part of Abu Dhabi’s ambitious model to effectively engage the private sector to deliver key infrastructure and services,” said Tariq Bin Hendi, Director-General of ADIO. “The long-term nature of Musataha projects offer investors certainty in planning and decision-making from inception through to completion.”
“The recently enhanced Musataha Agreement issued by ADIO maximises benefits for all parties involved. We are now moving to fulfilment as we facilitate new projects that unlock the potential of Abu Dhabi’s public land while creating competitive opportunities for the private sector and making the emirate one of the best places in the world to live.”