UAE: ADM inks deals for community market, slipways
Abu Dhabi City Municipality (ADM) has signed three agreements worth $16.34m for the construction of two slipways and a community market
Abu Dhabi City Municipality (ADM) has signed two agreements with Emak Investment Group for the construction of two slipways for boats.
The agreements for the slipways, which will be built in the cities of Al Bahya and Al Sadr, were signed by Musabbah Mubarak Al Murar, acting general manager of ADM.
Al Murar also signed an agreement with Corner Stone Property Management for the construction of a community market at Al Raha Parks.
According to UAE state news agency, WAM, the community market is among the seven planned by the Abu Dhabi government and is part of its plans to increase private-sector contribution to the emirate’s economic development.
Al Murar commented: "The seven community market projects, which the ADM is undertaking in partnership with the private sector, will enhance the standard of living and bring happiness to residents.
“They will also stimulate the economy and raise the life style in the emirate.”
He also noted: "The total cost of the three projects amounts to $16.34m (AED60m), and each project needs about two years to complete.
“These projects will be constructed according to the BOT (build-operate-transfer) model and the Musataha base, with an investment period extending to 20 years."
Giving details about the slipways to be constructed, he said: "The community needed a slipway for their boats and ski jets in Abu Dhabi city. We were keen to engage the private sector in developing and operating slipways at Al Sadr and Al Bahya.
“The project includes dry docks for boats, marina, supporting retail outlets, and a four-star hotel to enhance the experience of sea cruisers, at the same time generate a source of sustainable income for the project."
The community market, meanwhile, will feature retail outlets, community facilities, and government service facilities. It will cover 2,700m2 and will cost $4.08m (AED15m), WAM reported.