Abu Dhabi offers Dh15b projects

(MENAFN- Khaleej Times) Abu Dhabi is encouraging the public private partnership (PPP) concept by offering 100 development projects valuing Dh15 billion to private investors in the next four years, a top official said.

Khalifa Mohammed Al Mazroui Undersecretary of Department of Municipal Affairs at Abu Dhabi Business Forum, where over 400 investors and government officials were present, said that over 100 business opportunities have been created which were being offered to the private sector. These projects will be built in the next four years, where the three municipalities of Abu Dhabi, Al Ain and the Western Region, will provide land and infrastructure and private firms will be investing capital.

These opportunities span a wide spectrum chiefly the town centres or commercial centres, which will have shopping outlets, restaurants, cinemas and other facilities, in towns like Al Mirfa, Al Mafraq, Madina Zayed, Delma and Bani Yas, where these facilities need an upgrade.

In cities like Al Ain boutique hotels, amusement parks and other such facilities would be offered.

In the capital city, car parking plazas, mixed-used real estate developments and other projects are being offered.

One of the biggest up-coming projects that would be announced in the fourth year is a mega recreational facility in Al Ain called Heli Fun City and Amusement Park that would cost Dh1 billion.

The Abu Dhabi Municipality is developing a traditional Arabic Souq located on the shores of Maqta canal opposite the iconic tourist site Shaikh Zayed Grand Mosque.

The capital city, which has several modern shopping malls, was missing a traditional Arabic Souq, where foreign tourists and local resident can go for dinning, shopping and to spend quality time with their family and friends.

The project, which will cost Dh700 million, will go into the ground breaking phase by the year-end.

Recently, construction begun on a mega mixed-used leisure project in Abu Dhabi which will provide recreational facilities, high-end shopping and fine dining.

The project is being built around the famous canal near Maqta Bridge, which will transform the leisure facilities in the capital.

The 'Al Qana' is the first-ever Build-Operate-Transfer (BOT) model project implemented by Abu Dhabi City Municipality, which is being jointly developed with Al Barakah International Investments.

Abu Dhabi Municipality two years ago introduced a marvellous plan to attract private investments in many of the leisure projects on BOT basis and this project is the first of many to have completed the financial close.

The 'Al Qana' project is being built in a heritage-rich location, which hosts luxurious hotels such as the Ritz Carlton, the Fairmont Bab Al Bahr and Shangri-La as well as a lush residential suburb.

The project is a unique tourist attraction that combines the beauty of its natural surroundings with modern recreational facilities. Located near the majestic Grand Shaikh Zayed Mosque and flanks the historical Al Maqta Bridge, the project is capital's most magnificent waterfront project with impressive architectural designs.

Spread over 150,000 square meters, the Dh850 million project is expected to attract a footfall of up to six million per year.

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