Abu Dhabi Investment Office supports the development of 3 projects within the Musataha programme
Abu Dhabi, December 6, 2017 – The Abu Dhabi Investment Office announced a number of agreements within the “Musataha Programme”, during the fifth edition of the “Forum” sessions, which were organized within the activities of Abu Dhabi Business Week, which is held at the “ADNEC” Center in Abu Dhabi.
The “Forum” sessions, which were launched by the Department of Economic Development – Abu Dhabi in cooperation with the Abu Dhabi Investment Office in 2023, aim to enhance communication with family businesses, and enable them to achieve growth and contribute effectively to advancing economic development in the emirate.
The Musataha Program concluded 3 agreements with local investors to enable them to establish two commercial centers and an educational facility that contribute to enhancing the quality of life of residents in the Emirate of Abu Dhabi and provide citizen investors with economic growth opportunities.
Misnad Mall, the new commercial project located in the heart of Riyadh, Abu Dhabi, will provide more than a thousand square meters of leasable space, dedicated to retail, food and beverage outlets.
The project, implemented by Misnad Professional Contracting Company, aims to meet the growing demand for modern shopping experiences and provide basic services to the residents of the city of Riyadh. The second agreement with Danat Al Sharq Contracting Company aims to develop the “Pro Shops 2” project, which will represent a vibrant commercial destination in the Al Dhahir area in Al Ain, and will provide approximately 2,500 square meters of total leasable area, with the aim of enhancing commercial offers in the area. Al Ain and providing modern restaurants and stores.
In the education sector, the Abu Dhabi Investment Office, in cooperation with the Department of Education and Knowledge – Abu Dhabi, signed an agreement with Shining Star International to build an advanced school in the Al Wathba area in Abu Dhabi, on an area exceeding 30,000 square meters, at a total cost estimated at approximately 97 million dirhams. It will be developed in two stages, and its capacity will reach 4,000 students.
The new school, which will teach a curriculum based on the Indian educational system to students from first grade to secondary school, will contribute to enriching the educational system in the Emirate of Abu Dhabi.
The locations of these projects were carefully selected to provide vital services to residents of the targeted areas, stimulate economic growth, and support the comprehensive development goals of the Emirate of Abu Dhabi.
Mansour Al Bastaki, Director of the Musataha Department at the Abu Dhabi Investment Office, said that these projects confirm the important role of partnership between the public and private sectors in promoting economic growth in various regions of the Emirate of Abu Dhabi and through the Musataha programme, as the office works to encourage local investment and enhance its role in developing government lands. In the emirate in line with the strategic and economic vision of Abu Dhabi, and in a way that contributes to enhancing the quality of life and providing world-class services to residential complexes in the emirate.
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