TDIC invests AED40bn in Saadiyat Island
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TDIC invests AED40bn in Saadiyat Island

TDIC invests AED40bn in Saadiyat Island

Tourism Development and Investment Company(TDIC), which manages the development of real estate assets held by the Abu Dhabi government, could invest as much as AED40bn in the development of Saadiyat Island, higher than the AED27 bn it had previously announced, reported Gulf News.

    While sub-developers are expected to pump in another AED60bn, said Lee L. Tabler, TDIC's Chief Executive Officer.

    The proposed developments on Saadiyat include a cultural district, hotel projects on the north beach, another golf course and construction of as many as 5,000 residential units, which will be completed the first phase of the development.

    Four museums are also proposed, first of which is expected to be ready by 2012.
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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