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Abu Dhabi Investment Office supports 4 community development projects under Musataha programme

Abu Dhabi Investment Office supports 4 community development projects under Musataha programme
5 July 2024 15:24

ABU DHABI (ALETIHAD)

Abu Dhabi Investment Office (ADIO) announced a series of key agreements under its Musataha programme at the third edition of the ongoing Al Multaqa meetings held in Abu Dhabi. The meetings, launched in 2023, are specifically targeted at engaging with family offices to accelerate and participate in Abu Dhabi’s economic growth.

At the meeting, ADIO signed a Musataha agreement with Al Ittihad National Private School, which will see the operator establishing a pioneering new private school in Khalifa City. Built on a plot spanning 25,000 square metres, the school can accommodate up to 3,000 students.

Key community centres will also be developed in Madinat Al Riyadh, Ghiyathi and Al Shawamekh. The centres will offer retail and F&B options for communities in and around the major residential areas and support sustainable growth goals.

Mansoor Al Bastaki, Head of Musataha at ADIO, said: “We are proud to be collaborating closely with Abu Dhabi’s family offices to develop community projects that address the need for establishing key development initiatives across different areas of the emirate. The upcoming commercial centres and private school reflect our ongoing commitment to leverage public-private partnerships towards enhancing the quality of life and wellbeing of citizens and residents across Abu Dhabi.”

Family offices in Abu Dhabi continue to play a pivotal role in driving the emirate’s economic ambitions. To measure their impact and to rank various metrics related to family-owned or family-controlled businesses in Abu Dhabi, the Abu Dhabi Department of Economic Development (ADDED) has recently partnered with United Arab Emirates University (UAEU) to launch the Abu Dhabi Family Business Index. The index is expected to be of immense value to investors, policymakers, academics, and public members as it will provide an understanding of the role and influence of family businesses on Abu Dhabi’s economy and society, potentially shaping future strategies and decisions.

In close collaboration with government partners, sovereign investors, and national champions, ADIO provides local and international investors with growth-enabling support and access to Abu Dhabi’s public land bank for major infrastructure projects. ADIO is also continuing to support communities across Abu Dhabi through a pipeline of Musataha projects geared towards transforming living and experiences in the emirate.

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