Abu Dhabi Investment Office (ADIO) has announced plans to aid the new community market projects to boost the quality of life for residents in Al Wathba, Abu Dhabi.
Industry sources added that 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.
Industry sources further added that 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 centers, as part of Abu Dhabi Housing Authorityโs (ADHA) residential complexes.
Industry sources added that the latest Musataha project reflects ADIOโs commitment to growing Abu Dhabiโs private sector and diversifying its economy by providing investors with access to the emirateโs 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,ย stated: โWe are proud to be part of this important community initiative to enhance the quality of life for residents in Al Wathba. The well-being 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.”
He further adds โMusataha 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.โ
Captain Mohamed Juma Al Shamsi, Chairman of the Board, of Abu Dhabi Cooperative Society, stated: “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.”
Captain Mohamed Juma Al Shamsi further adds “This endeavor aligns with our commitment to fostering a prosperous, diversified, and inclusive economy, placing the well-being 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.”
Industry sources added that 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 organization now spans 120 stores across multiple distinct brands, amplifying its impact in hypermarkets, supermarkets, and convenience stores.
