Abu Dhabi Investment Office (ADIO) has announced plans to support new community market projects to enhance the quality of life for residents in Al Wathba, Abu Dhabi.
Four Musataha agreements were signed with the Abu Dhabi Cooperative Society to establish, manage and run supermarkets and hypermarkets in strategic locations across Al Wathba community centres, as part of Abu Dhabi Housing Authority’s (ADHA) residential complexes.
The signing ceremony was attended by His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Badr Al-Olama, Director General of ADIO, and Affan Alkhouri, Acting Group Chief Executive Officer of Abu Dhabi Cooperative Society.
The new community markets will enhance the existing infrastructure and quality of life for residents of ADHA’s residential projects as part of ongoing initiatives under the Abu Dhabi Government’s plan to leverage public-private partnerships to achieve strategic objectives of the emirate, which places the wellbeing of citizens and residents on top of its priorities.
The new Musataha project reflects ADIO’s commitment to growing Abu Dhabi’s private sector and diversifying its economy through providing investors with access to the emirate’s ecosystem, public landbank and major infrastructure projects. The agreement involves a partnership period of seven years to serve residents across Al Wathba.
His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “We are proud to be part of this important community initiative to enhance the quality of life for residents in Al Wathba. The wellbeing of citizens and residents of Abu Dhabi is the compass guiding our growing Falcon Economy towards a more prosperous, diversified, inclusive and sustainable economy. To this end, we are forging ahead with efforts to enhance smart partnerships between public and private sectors, and provide promising investment opportunities for local and international players alike to play a major role in socio-economic development.
“Musataha continues to be one of our key offerings as part of our mandate to empower investors to move further and faster towards their business goals by connecting them to the larger ecosystem. ADIO plays an active role in promoting private and public partnerships, and the long-term, stable nature of Musataha agreements contributes towards this goal.”
As a partner in this new community development, Abu Dhabi Cooperative Society is embarking on an exciting new chapter to drive innovation in the UAE retail landscape and enable economic growth and local empowerment. The organisation now spans 120 stores across multiple distinct brands, amplifying its impact in hypermarkets, supermarkets and convenience stores.
Captain Mohamed Juma Al Shamsi, Chairman of the Board, Abu Dhabi Cooperative Society, said: "I am thrilled to witness the culmination of our vision as we embark on this transformative journey. The partnership with the Abu Dhabi Investment Office (ADIO) and the signing of Musataha agreements for community markets in Al Wathba mark a significant step towards enhancing the quality of life for residents. This endeavour aligns with our commitment to fostering a prosperous, diversified, and inclusive economy, placing the wellbeing of our citizens at the forefront. Together with ADIO, we are forging a path of sustainable development and community empowerment, creating lasting positive impact for generations to come."
In line with its commitment to support communities across Abu Dhabi, ADIO has developed a pipeline of Musataha agreements to enable key projects in the emirate.
