Tourism Development & Investment Company (TDIC), which develops and manages the tourism assets of Abu Dhabi Tourism Authority (ADTA), has taken two awards at this week’s Cityscape Abu Dhabi ceremony for its Saadiyat Island development – which lies just 500 metres offshore the UAE capital.
TDIC is transforming Saadiyat Island, a 27 kilometre natural island, into a world-class tourism, residential and cultural destination.
Cityscape’s panel of real estate experts voted the project the ‘Best Mixed-Use Development’ and the ‘Best Waterfront Development.’
“These are the first in what we intend to be an extensive collection of internationally recognised awards that we believe the projects now emanating out of TDIC and Abu Dhabi can achieve,” said His Excellency Sheikh Sultan Bin Tahnoon Al Nahyan, Chairman of both ADTA and TDIC.
“Much of the credit for these achievements go to their highness, Sheikh Khalifa Bin Zayed Al Nahyan, the UAE President and Sheikh Mohammed Bin Zayed Al Nahyan, Crown Price of Abu Dhabi, Deputy Supreme Commander of the Armed Forces, for their foresight in spearheading the drive to leverage the many natural assets of their emirate in a manner totally consistent with environmental and socio-economic guardianship”.
The awards were received at a special ceremony at Abu Dhabi’s Emirates Palace Hotel by Lee Tabler, CEO, TDIC.
“TDIC is fortunate in that its Chairman Sheikh Sultan, is personally involved in development at every stage bringing to our projects his own expertise as an architect and his over-riding commitment to environmental stewardship and best-practice in delivering development sustainability,” said Tabler.
With 30 kilometres of water frontage, 19 kilometres of white, sandy beach, turtle breeding grounds and natural mangrove reserves rich in marine and birdlife, development of Saadiyat Island demands a stringent environmental guardianship approach.
Saadiyat Island has been masterplanned to include seven distinct districts, delivering a multitude of experiences, including its now world-renown Cultural District which will be home to the Louvre Abu Dhabi and the Guggenheim Abu Dhabi museums.
“Since the launch of the project, investor response has been impressive with local, regional and international interest,” explained Tabler. “A number of luxury resorts, due to open in 2009, are being planned by Saadiyat Beach investors.”
The unique environment of Saadiyat Beach, which lies to the north west of Saadiyat Island and is positioned as its premier hospitality district, presents special opportunities for hotel and resort developers. Saadiyat Beach is master planned to produce a range of five-star resorts flanking nine kilometres of pristine beach, a championship golf course with freehold villas and world class marina, all creating a celebrity see-and-be seen atmosphere.
“TDIC has laid down strict development guidelines to adhere to and which are being rigorously enforced even from design stage. These include best practices for the conservation of energy and water,” explained Tabler.
About Saadiyat Island:
Saadiyat Island - which translates from Arabic as Island of Happiness - is the largest single mixed-use development in the Arabian Gulf. The 27 square kilometre natural island - half the size of Bermuda - lies only 500 metres offshore Abu Dhabi island - the capital city of the United Arab Emirates. Saadiyat Island is being developed into a complete visitor and residential destination.
Saadiyat Island represents one of the most important development opportunities in Abu Dhabi's history. The island, which has 30kms of water frontage and boasts many natural eco-features including mangrove forests, is being developed as a strategic international tourism destination and marks a new era in the rapid evolution of Abu Dhabi, the largest of the seven emirates which form the UAE Federation.
Saadiyat Island will be developed in three phases with total completion scheduled for 2018. The masterplan envisages seven highly individual districts and includes 29 hotels, including an iconic 7-star property, three marinas with combined berths for around 1,000 boats, museums and cultural centres, two golf courses, civic and leisure facilities, sea-view apartments and elite villas.
Saadiyat Island is expected to be home to a community of more than 150,000 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 the main Abu Dhabi island and the Abu Dhabi mainland via two, 10-lane freeways making the destination easily accessible to Abu Dhabi International Airport, which will be just a 25 kilometre drive away.
Saadiyat Island is being developed by the Tourism Development & Investment Company (TDIC), an independent public joint stock company of which Abu Dhabi Tourism Authority is the sole shareholder. TDIC's strategy is to dispose of development land on the island to private investors who will each develop their sites in accordance with the masterplan and supporting planning regulations and design guidelines.
About Tourism Development & Investment Company:
Tourism Development & Investment Company (TDIC) is a public joint stock company established under Law No: 12 of 2005 as decreed by the Abu Dhabi Ruler and UAE President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan. TDIC is an independent organisation empowered to manage the tourism investment zones of the Abu Dhabi Tourism Authority (ADTA), which directs and implements strategy for the expansion of the emirate's tourism sector. TDIC will develop the real estate assets that support ADTA's mission of assisting UAE economic diversification through tourism development.
TDIC, launched with an initial paid-up capital of AED100 million (US $27.5 million) with its shareholding fully owned by ADTA, operates along strictly commercial lines with its projects being self-sustaining and economically feasible. Its activities include creating development and tourism related concepts for specific sites and locations, disposing of, or repositioning, government-owned tourism related assets, entering into joint ventures with investment partners for assets such as hotels or residential products, as well as serving as the master developer for large scale projects.
