Abu Dhabi launches $100 million fund to pull in iconic global restaurants
Applicants must be globally recognised chefs or brands with a multi-regional presence
Abu Dhabi: The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) launched a new $100 million Culinary Investment Fund (ADCIF) to draw iconic restaurants to the UAE capital. The fund will elevate the Emirate’s gastronomy scene by building a new culinary school, offering a core curriculum and two new degree programmes that focus on maritime sustainability and food security.
Applicants must be globally recognised chefs or brands with a multi-regional presence. They should provide a premium casual, lifestyle, or fine dining experience and make their debut in Abu Dhabi with a one-year exclusivity period, the DCT Abu Dhabi said in a statement on Wednesday.
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In return, ADCIF will co-invest with local asset partners and offers incentives to chefs and culinary institutions to make Abu Dhabi their new home.
“There is no better time or place to bring best-in-class chefs, restaurants, and hotel brands to the capital and create new dining experiences,” said Saleh Mohamed Al Geziry, Director-General for Tourism, DCT Abu Dhabi. “This fund, in combination with the Culinary School will ensure that Abu Dhabi appeals to even more visitors around the world.”
Abu Dhabi’s dining scene is gaining global recognition with the launch of the first-ever Michelin Guide Abu Dhabi, awarding 42 restaurants, and the return of MENA’s 50 Best Restaurants. DCT Abu Dhabi will announce the first two recipients of the new Abu Dhabi Culinary Investment Fund soon.