Wednesday , 14 November 2018

Abu Dhabi Investment Office’s $1.36bln projects to boost economic diversification

Abu Dhabi is looking at a big push into the tourism sector.

UAE – Abu Dhabi Investment Office is giving wings to the Government’s Vision 2030 of economic diversification with real estate projects worth Dh5 billion.

ADIO adviser Mohamed Al Hosani said Delma Island – considered the most difficult place to invest – will see massive uplift with implementation of the government’s masterplan.

“We are only implementing Abu Dhabi Government’s 2030 Vision. Our role is to market the government policy and vision to the private sector. We invite the private sector to join us and implement the masterplan,” Al Hosani told Khaleej Times on sidelines of International Real Estate and Investment Show (IREIS).

He said Abu Dhabi is looking at a big push into the tourism sector.

“We have 5,000 people on Delma Island. By 2030, we will have 10,000 there. In bid to promote tourism, there will be three hotels on the island. One three-star hotel is Dh100 million and another is Dh30 million. There is one more being developed.”

Stressing on implementation of plans, Al Hosani said: “In July 2017, we had a masterplan ready for a hotel. In July 2018, 60 per cent project got complete and soon we will have new hotel. So this should encourage private sector to invest.”
He noted that investments made by private sector players will be protected.

Planes from Delma toAbu Dhabi, Dubai

Al Hosani said there will be three airlines connecting Abu Dhabi and Dubai with Delma Island. “We make things happen. We will have airlines – Sea Wings, Rotana Jet – connect the island with Abu Dhabi and Dubai airports.”

The ADIO adviser said the masterplan includes regions of Al Ain and Al Dhafra. ADIO has focused on areas like Ghayathi, Al Marfa and Madinat Zayed in Al Gharbia region were already transformed.

“We have converted an unused facility in Ghayathi into a three-star hotel by transforming a 23-room facility into 240 room hotel. Similarly we changed an old facility in Madinat Zayed into a four-star hotel. We have invested $350 million into Al Marfa city with collaboration with private sector.”

Al Hosani said Jebel Hafeet in Al Ain too got a 120-room hotel. ADIO is also focusing on developing protected areas like Mangrove National Park (10 sq. km.) and Al Bateen Heritage Village (15,000 sq. m.).

It is exploring investment opportunities to develop seven plots for sports and community service with total area of 70,000 sq. m. in the city. “Anyone who is interested to bid can do so till November 21. It is a sports and mixed-use project.” Among other areas to see developments are Al Bateen (73,500 sq. m.) and Samaliyah Island (13,300,000 sq. m.). He said the ADIO is also concentrating on 18 free zones.

India, China show big interest

Al Hosani said there is big interest level shown from the region, Asia, the US and Europe.

“We are working with all the leading developers in Abu Dhabi. We had regular delegate visits to Beijing, Shanghai, Mumbai and New Delhi. We have committees and working groups. They are participating in couple of projects at the moment. And we are seeing more interest coming.”

Al Hosani said such projects will have multiple positive economic developments.

“There will be enhancement of infrastructure, quality of life, more people, creation of new jobs and also increase in GDP,” he added.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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