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Abu Dhabi announces Dh100b Saadiyat Island project

Abu Dhabi yesterday unveiled plans to develop Saadiyat Island into an international tourism destination by attracting about Dh100 billion in three phases through public-private partnerships…

The company, Tourism Development and Investment Co. (TDIC), will have an initial capital of Dh100 million and would be fully owned by the Abu Dhabi Tourism Authority.

“Saadiyat Island will be the first of many projects falling under” the new company, he said. “This is an important chapter in Abu Dhabi’s history. The creation of TDIC ushers in a new era of economic transition for the emirate, while the development of Saadiyat, a unique natural resource, represents one of the most vibrant episodes in the capital’s evolution.”

“Saadiyat is a symbol of Abu Dhabi’s renewed economic openness and a signal to the world that this emirate is very much open for partnerships and business on an international scale.”…

Saadiyat will be developed in three phases with total completion scheduled for 2018. The masterplan envisages six highly individual districts with 29 hotels, including a seven-star resort, three marinas, museums and cultural centres, two golf courses, civic and leisure facilities, sea-view apartments and elite villas.

The six island districts are: Cultural District, Al Marina, Saadiyat Beach, South Beach, Saadiyat Park and The Wetlands…

Stunning Facts

* Infrastructure Cost: Dh5.5b
* Hotels with 7,000 rooms: 29
* Golf Courses: 2
* Villas: 8,000
* Appartments: 38,000
* Home to residents: 150,000…

To be managed by: Tourism Development and Investment Company (TDIC)

* Owned by Abu Dhabi Tourism Authority (ADTA)
* Saadiyat Island covers an area of 27 sq.km.
* It is 500 metres offshore north-east of Abu Dhabi city.
* Saadiyat Island means Island of Happiness.
* The island has sensitive mangrove reserves.
* Saadiyat will be lined to Abu Dhabi city via two causeways. Each with10-lane freeways.
* Provision for light rail transport is made.
* Abu Dhabi has 200 natural offshore islands.
* This will attract Dh100 billion worth of investment… {{link http://gulfnews.com/business/Real_Estate_Property/10035489.html SOURCE}}

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