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TDIC in five-year, multi-million dollar alliance with USA'S AECOM

  • United Arab Emirates: Tuesday, October 21 - 2008 at 10:49
  • PRESS RELEASE

Tourism Development & Investment Company (TDIC), a master developer of major cultural, residential and tourism destinations within Abu Dhabi, has entered into an alliance worth an estimated contract value of over $210m with the USA's AECOM Technology Corporation, a leading provider of professional technical and management support services for government and commercial clients worldwide.

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  • TDIC's Lee Tabler, Chief Executive Officer with John M. Dionisio, President and Chief Executive Officer, AECOM.
    TDIC's Lee Tabler, Chief Executive Officer with John M. Dionisio, President and Chief Executive Officer, AECOM.
Contracted through to 2013, AECOM will now provide overall programme management services supplemented by master planning, landscape architecture, economics and architecture/engineering services for the Cultural District of Saadiyat Island - the natural island lying just offshore the UAE capital city and other major TDIC projects.

"This alliance will deliver optimum cost-effectiveness, heightened responsiveness and greater contractor accountability," explained Lee Tabler, Chief Executive Officer, TDIC" It will greatly improve TDIC's risk management approach.

"Aecom will create an electronic programme management system that allows real-time project tracking across all TDIC developments. TDIC now has access to Aecom's programme management expertise for the management of the Cultural District's institutions."

The Cultural District is to be home to the world's single largest concentration of premier cultural institutions including the Sheikh Zayed National Museum, designed by Lord Norman Foster, the Guggenheim Abu Dhabi Museum, by Frank Gehry, the Louvre Abu Dhabi, by Jean Nouvel, a performing arts centre by Zaha Hadid and maritime museum by Tadao Ando.

"We are excited to play a key role in bringing Saadiyat Island's Cultural District to life and further establishing Abu Dhabi's position as a premier international destination," said AECOM President and Chief Executive Officer John M. Dionisio.
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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 AECOM:

AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy. With more than 41,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world's built, natural, and social environments. AECOM serves clients in more than 100 countries and had revenue of $4.7 billion during the 12-month period ended June 30, 2008. More information on AECOM and its services can be found at www.aecom.com.


Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward looking statements" for purposes of federal and state securities laws, including any projections of earnings or other financial items; any statements of the plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance. Although we believe that the expectations reflected in our forward looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in forward looking statements include: uncertainties related to funding, audits, modifications and termination of long-term government contracts; losses under fixed-price contracts; limited control over operations run through our joint venture entities; misconduct by our employees or consultants or our failure to comply with laws or regulations; failure to successfully execute our merger and acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward looking statements are set forth in our reports filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward looking statement.

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