TDIC gives positive update at Cityscape

Saadiyat Island, TDIC's flagship development, has some key milestones this year.

Tourism Development & Investment Company (TDIC) today asserted its commitment to 12 projects in Abu Dhabi insisting it was at the forefront of the capital’s development.

Speaking at today’s Cityscape Abu Dhabi, the company, a master developer of cultural, residential and tourism destinations, delivered a progress update of its key projects.

The firm’s flagship development, Saadiyat Island, has a number of high-profile milestones scheduled for this year, including the ground breaking of the Louvre Abu Dhabi next month, followed by similar works for the Guggenheim Abu Dhabi Museum and the Zayed National Museum, between July to September.

“With just a quick look around Abu Dhabi, you can see the impact our projects have and how quickly they are coming to fruition,” said TDIC’s CEO, Lee Tabler.

“We are using the Cityscape Abu Dhabi exhibition as a platform to show that our projects go from strength to strength, not only in terms of quantity, but in terms of quality.”

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TDIC recently received AA ratings from Moody’s Standard & Poor’s and Fitch Ratings.

The firm said it is launching a number of wholly owned projects in Abu Dhabi City, such as the Angsana Resort and Spa Eastern Mangroves.

The company is also redeveloping the Al Bateen district, the oldest area of Abu Dhabi and will build a new fisherman’s marina to be completed by the first quarter of 2010 and the five-star Al Bateen Wharf Hotel.

“TDIC is at the forefront of Abu Dhabi’s growth and development, and today’s progress report demonstrates how far we have travelled in such a short time,” explained Tabler.

The company said over the next five years it will build 7000 of the projected 30,000 new hotel rooms in the city.

Its 12 key projects are; Saadiyat Island, Desert Island, Anantara Qasr Al Sarab Abu Dhabi, Angsana Resort and Spa Eastern Mangroves, Al Bateen Wharf, Abu Dhabi Golf Resort, Fairmont Hotel, Bridgeway Abu Dhabi, Traders Hotel, Grand Millennium Corniche Hotel, Park Rotana Complex, and The Regent Emirates Pearl Abu Dhabi.

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