United Arab Emirates:

The Abu Dhabi Investment Office (ADIO) announced a series of key agreements under its Musataha programme at the third edition of the ongoing Al Multaqa meetings, held in the capital on July 3, 2024.
The meetings, which were launched in 2023, are specifically targeted at engaging with family offices to accelerate and participate in Abu Dhabi’s economic growth.

At the meeting, ADIO signed a Musataha agreement with Al Ittihad National Private School, which will see the operator establishing a pioneering new private school in Khalifa City. Built on a plot spanning 25,000 square metres, the school will be able to accommodate up to 3,000 students.

Key community centres will also be developed in Madinat Al Riyadh, Ghiyathi and Al Shawamekh. The centres will offer retail and F&B options for communities in and around these major residential areas in the emirate and support sustainable growth goals.

Commenting on the agreements, Mansoor Al Bastaki, Head of Musataha at ADIO, said, “We are proud to be collaborating closely with Abu Dhabi’s family offices in order to develop community projects that address the need for establishing key development initiatives across different areas of the emirate. The upcoming commercial centres and private school reflect our ongoing commitment to leverage public-private partnerships towards enhancing the quality of life and wellbeing of citizens and residents across Abu Dhabi.”

Family offices in Abu Dhabi continue to play a pivotal role in driving the emirate’s economic ambitions. To measure their impact, and to rank various metrics related to family-owned or family-controlled businesses in Abu Dhabi, the Abu Dhabi Department of Economic Development (ADDED) has recently partnered with the United Arab Emirates University (UAEU) to launch the Abu Dhabi Family Business Index. The index is expected to be of immense value to investors, policymakers, academics, and members of the public as it will provide an understanding of the role and influence of family businesses on Abu Dhabi’s economy and society, potentially shaping future strategies and decisions.

In close collaboration with government partners, sovereign investors and national champions, ADIO provides local and international investors with growth-enabling support, as well as access to Abu Dhabi’s public land bank for major infrastructure projects. ADIO is also continuing to support communities across Abu Dhabi through a pipeline of Musataha projects, which are geared towards transforming living and experiences in the emirate.