Abu Dhabi Community Cooperative starts operations focused on collective investment projects
Amid UAE’s Golden Jubilee, cooperative to launch first project before end of 2021
Abu Dhabi: The Abu Dhabi Community Cooperative (ADCC) has commenced operations in conjunction with UAE’s Year of the 50th celebrations.
The membership-based community cooperative, open to all Emiratis from across the UAE, seeks to pave the way for a participatory framework for its members who will be making profits from the ADCC projects they collectively invest in, which will in turn support societal development. Moreover, members will be able to access ADCC services while also enjoying the profits of their purchases, it said.
The ADCC was established in 2019 pursuant to Ministerial Resolution by the Ministry of Economy to improve the social and economic situation of its members and serve the community.
ADCC will launch its first project before the end of 2021. The community cooperative has called on citizens across the UAE to become active participants and stakeholders in the nation’s social development process by investing in ADCC’s sustainable social projects on its website.
Back to society
Ali Al Saloom, Chairman of the Board of Directors, ADCC, said: “We wanted the ADCC’s efforts to start from society and then go back to the same society; we wanted to unite community’s efforts and resources to provide investment options, job opportunities and a standard of life that expresses the true power of collective action.”
He added: “ADCC’s vision goes beyond the generation of incomes or profits for contributors, or even service delivery to UAE citizens and residents. It upholds noble cultural and social values that are actioned by consolidating the spirit of cooperation embedded in our Emirati heritage.
“Our vision is also directed towards achieving what was once thought to be impossible – building institutions that not only serve their members, but also entitles them as stakeholders who are equally responsible for their success.”