Tuesday 3 March 2009

Tourism projects seek Dh100bn

Abu Dhabi’s Tourism Development and Investment Company (TDIC) plans to tap capital markets this year to help fund a portfolio of projects worth Dh100 billion, an executive from the company said yesterday.

The projects, such as the hotel and museum ventures on Saadiyat Island and Al Bateen Wharf on Abu Dhabi Island, are central to the capital’s 2030 plan to triple the population of the emirate and evolve into a leading cultural destination.

“This year, part of this strategy will be to access the capital markets for longer-dated debt to match the maturity profile of our projects,” said Mubarak al Muhairi, the managing director of TDIC.

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