Abu Dhabi Tourism Development and Investment Company to target Investment Outreach Campaign at Cityscape USA Conference NEW YORK, Sept. 4
NEW YORK, Sept. 4 /PRNewswire/ -- Tourism Development & Investment Company
(TDIC), the master developer of major tourism and cultural destinations in the
emirate of Abu Dhabi, is looking to drive institutional investor awareness at
the 2008 Cityscape USA Conference and Exhibition.
Cityscape USA is a two-day networking exhibit and three-day conference
that attracts the world's top institutional investors, real estate developers,
governmental and developmental authorities, leading architects, and other
senior professionals in the real estate industry. The event, which will take
place at the Jacob Javits Center in New York City on September 9-12, will mark
TDIC's first venture into the U.S. market
TDIC, the name behind the Saadiyat Island Cultural District destination,
which is projected to be the world's largest single concentration of premier
cultural institutions including the Guggenheim Abu Dhabi Museum, will be
looking to spark American investment interests.
"We currently have strong investor response from the local market in Abu
Dhabi and believe the time is now right to take our compelling propositions
onto the world stage," said Lee Tabler, Chief Executive Officer of TDIC. "We
are looking to open up an intercontinental dialogue which will put our
expanding portfolio of tourism and urban renewal projects at the forefront of
institutional investor planning."
Launched less than three years ago, TDIC is currently planning, or
developing, no less than 80 projects throughout Abu Dhabi - the largest of the
seven emirates that make up the United Arab Emirates (UAE). Abu Dhabi city is
the country's capital and the seat of Federal government.
"Abu Dhabi is committed to evolving into an international destination of
distinction. The emirate has huge natural assets which can assist in this aim,
including 200 natural islands and 700 kilometres of shoreline," said Tabler.
"It is a greatly anticipated destination where progress is being achieved in a
measured manner - guided by strong underlying principles of cultural and
environmental respect that are reflected throughout TDIC developments."
Over the past two years, Abu Dhabi has earned a string of international
accolades, which have set it apart from other emerging destinations. The UAE
capital was recently named 'A World Winning City In The Making' in the 2008
Jones Lang LaSalle 'Emerging World Class Cities' report while Saadiyat Island
was named on of the world's 'Top Ten Emerging Trendy Destinations' in a Wall
Street Journal poll of international travel scouts. In a report on real estate
within the Arabian Gulf, investment bank Morgan Stanley recently predicted
prices in Abu Dhabi would rise by 25% by 2010.
"Abu Dhabi can make a convincing case for institutional investors because
it has long-term economic sustainability, is pursuing well-thought-out
infrastructure investment and has clear government direction and strong
governance," said Tabler. "We believe we will leave New York having piqued
considerable interest among our target audience and with the foundations of an
ongoing dialogue that we will actively pursue moving forward."
TDIC officials will be on hand at Cityscape New York to meet potential
investors, developers, professional service industry executives and members of
the media during the Exhibition on September 10-11.
About Tourism Development & Investment Company (TDIC)
Tourism Development & Investment Company (TDIC) is a master developer of
major tourism destinations in Abu Dhabi, the largest of the seven emirates
which make up the United Arab Emirates and a key contributor to its economic
and cultural progress.
The company is behind some of Abu Dhabi's most prestigious projects
including two major destinations - Saadiyat Island, which will house the
world's largest single concentration of premier cultural institutions
including the Sheikh Zayed National Museum, the Guggenheim Abu Dhabi Museum,
the Louvre Abu Dhabi museum, a performing arts centre and maritime museum, and
Desert Islands which will be one of the world's largest sustainable island
tourism destinations.
By creating investment partnerships and joint ventures, TDIC's
developments are supporting Abu Dhabi's evolution into a world class
destination for tourists, businesses and residents and helping to realise the
emirate's considerable tourism potential and strategic goal of delivering 2.7
million hotel guests a year by 2012.
Established in April 2006, TDIC has already built a strong reputation
among international industry players for its compelling value proposition,
transparency of business approach and ability to deliver. Locally, TDIC offers
significant employment and vocational training opportunities for Emiratis keen
to enhance their careers and professional qualifications.
For further information visit www.tdic.ae
About Saadiyat Island
Saadiyat Island - which translates from Arabic as Island of Happiness - is
the Arabian Gulf's largest single mixed-use development. The 27 square
kilometre natural island lies only 500 metres offshore Abu Dhabi Island - the
capital city of the United Arab Emirates. Saadiyat Island is being developed
into a signature leisure, cultural and residential destination.
Saadiyat Island represents one of the most important development
opportunities in Abu Dhabi's history. The island, which has 30 kilometres of
water frontage and boasts many natural eco-features, including mangrove
forests, marks a new era in the rapid evolution of Abu Dhabi, the largest of
the seven emirates, which form the UAE Federation.
Saadiyat Island, which, in Wall Street Journal research was tipped as one
of the world's top 10 emerging 'trendy' destinations and voted the 'World's
Leading Tourism Development Project' in the 14th World Travel Awards, will be
developed in three phases until 2018. The master plan envisages seven distinct
districts - Cultural District, Saadiyat Marina, Saadiyat Beach, South Beach,
Island Lagoons, The Wetlands and Eco-Point. There are plans for luxury hotels,
over three million square metres of office space, marinas with combined berths
for around 1,000 boats, two golf courses - one the UAE's first Gary Player
signature course and the Arabian Gulf's first 'ocean' course - civic and
leisure facilities, sea-view apartments and elite villas.
The island will also be home to the world's largest single cluster of
world-class cultural assets, including the Sheikh Zayed National Museum,
concept designed by Lord Norman Foster; the Guggenheim Abu Dhabi Museum of
modern and contemporary arts designed by Frank Gehry; the Louvre Abu Dhabi
universal museum conceptualized by Jean Nouvel; a performing arts centre
designed by Zaha Hadid and a maritime museum by Japan's Tadao Ando. Saadiyat
Island is expected to be home to a community of more than 160,000 people - the
same population size as Chang Mai in Thailand, Oxford in the UK or Hollywood
in the USA.
Saadiyat Island will be linked to Abu Dhabi, via a Saadiyat Link road,
which will connect the Shahama district to Saadiyat Island from Abu Dhabi's
Mina Zayed area, by a 10-lane Saadiyat Bridge which is already 25% to
completion.
Saadiyat Island is being developed by the Tourism Development & Investment
Company (TDIC), an independent public joint stock company of which Abu Dhabi
Tourism Authority (ADTA) is the sole shareholder.
Reporters May Contact:
Bradley Wray, 1.212.994.7592
Bradley.Wray@rfbinder.com
Patrick Tucker, 1.212.994.7561
Patrick.Tucker@rfbinder.com
Robert Ferris, 1.212.994.7505
Robert.Ferris@rfbinder.com
Brad Fennessy, 1.212.994.7613
Brad.Fennessy@rfbinder.com
SOURCE Tourism Development & Investment Company
