The Abu Dhabi Investment Office (ADIO), in partnership with the Department of Municipalities and Transport (DMT), announced 12 new community market projects across the emirate with Musataha tender.
The establishment of community markets will improve current infrastructure and quality of life by developing urban hotspots with retail, convenience, and sports facilities, while also providing investors in Abu Dhabi with long-term opportunities.
Three tenders for the development of community markets in Khalifa City, Shakhbout City, and Mohammed Bin Zayed City have been successfully awarded to private sector investors to date. The rest of the tenders will begin in July 2021 and end in December 2022.
Dr. Tariq Bin Hendi, Director-General of ADIO, said, “Musataha agreements are an important part of Abu Dhabi’s ambitious model to effectively engage the private sector to deliver key infrastructure and services. The recently enhanced Musataha Agreement issued by ADIO maximizes benefits for all parties involved.”
ADIO and DMT encourage qualified entities to participate in the program’s next stage by collecting Requests for Qualifications (RFQs) for the development of the Yas Island Community Market and the Al Aamerah Community Market.
DMT Under-Secretary Mr. Abdullah Al Sahi said, “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.”
Projects produced under Musataha agreements allow private sector investors to design, build, and run an asset on government-owned land for a defined length of time. Musataha projects are built with highly competitive investment models and flexible conditions that provide investors with a good return on their investment.
