The Abu Dhabi Investment Office (ADIO), in partnership with the Department of Municipalities and Transport (DMT), has unveiled plans for 12 new community market projects.
The community markets will create urban destinations with retail, convenience and sports facilities, while offering long-term opportunities for investors in Abu Dhabi, a statement said.
To date, three tenders have been successfully awarded to private sector investors, with the remaining tenders launching this month and concluding by the end of 2022.
The three awarded tenders are for the development of community markets in Khalifa City, Shakhbout City and Mohammed Bin Zayed City.
The locations will offer green and open areas for the community to enjoy, while providing key services, the statement added.
ADIO and DMT are inviting qualified entities to participate in the next stage of the programme by collecting the requests for qualifications (RfQ) for the development of the Yas Island Community Market and Al Aamerah Community Market.
The community market project on Yas Island is for the proposed development of 5,675 square metres and has a partnership period of 32 years under a Musataha agreement and will serve more than 6,000 residents in the island.
The community market in Al Aamerah is for the proposed development of 3,566 square metres of land in Al Ain. The project has a partnership period of 31 years and will serve more than 5,000 residents in the community.
Projects developed under Musataha agreements enable the private sector investors to design, build and operate an asset on land owned by the government for a stipulated, long-term period.
Dr Tariq Bin Hendi (pictured above), director general of ADIO, said: “The long-term nature of Musataha projects offer investors certainty in planning and decision-making from inception through to completion.
“We are now moving to fulfilment as we facilitate new projects that unlock the potential of Abu Dhabi’s public land while creating competitive opportunities for the private sector and making the emirate one of the best places in the world to live.”
Abdullah Al Sahi, Undersecretary of the Department of Municipalities and Transport, added: “Enabling sustainable economic growth by supporting public-private partnerships is essential for ongoing development, and joining forces to provide more platforms and opportunities that will attract investors will be a key pillar to achieving that.”
Interested companies that are 100 percent owned by UAE nationals can participate in the two open tenders.
Follow us on
