ABU DHABI: Abu Dhabi Investment Office (ADIO) has announced plans to support new community market projects to enhance the quality of life for residents in Al Wathba, Abu Dhabi.
Four Musataha agreements were signed with the Abu Dhabi Cooperative Society to establish, manage and run supermarkets and hypermarkets in strategic locations across Al Wathba community centres as part of Abu Dhabi Housing Authority's (ADHA) residential complexes.
The signing ceremony was attended by Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Badr Al-Olama, Director-General of ADIO, and Affan Alkhouri, Acting Group Chief Executive Officer of Abu Dhabi Cooperative Society.
The new community markets will enhance the existing infrastructure and quality of life for residents of ADHA's residential projects as part of ongoing initiatives under the Abu Dhabi Government's plan to leverage public-private partnerships to achieve strategic objectives of the emirate, which places the wellbeing of citizens and residents on top of its priorities.
The new Musataha project reflects ADIO's commitment to growing Abu Dhabi's private sector and diversifying its economy by providing investors access to the emirate's ecosystem, public landbank and major infrastructure projects. The agreement involves a partnership period of seven years to serve residents across Al Wathba.
Al Zaabi, said, "We are forging ahead with efforts to enhance smart partnerships between public and private sectors and provide promising investment opportunities for local and international players alike to play a significant role in socio-economic development.
"Musataha continues to be one of our key offerings as part of our mandate to empower investors to move further and faster towards their business goals by connecting them to the larger ecosystem. ADIO actively promotes private and public partnerships, and the long-term, stable nature of Musataha agreements contributes towards this goal."
Captain Mohamed Juma Al Shamsi, Chairman of the Board of Abu Dhabi Cooperative Society, said that this partnership aligns with the society's commitment to fostering a prosperous, diversified, and inclusive economy, placing the wellbeing of our citizens at the forefront. "Together with ADIO, we are forging a path of sustainable development and community empowerment, creating lasting positive impact for generations to come."
In line with its commitment to support communities across Abu Dhabi, ADIO has developed a pipeline of Musataha agreements to enable key projects in the emirate.