October 27, 2020

Abu Dhabi issues tender to build and manage 38 hectare park

 

The Abu Dhabi City Municipality has announced the release of a public tender for developing, investing and managing Sharia Park in Abu Dhabi, with the deadline for submitting bids set at Tuesday, 29 September, 2015.

Sharia Park will be located beside Sheikh Maktoum bin Rashid Highway (E11) between Abu Dhabi and Dubai, at the intersection with Al Ajban Street (E16) near Al Rahba city, Abu Dhabi.

According to state news agency WAM, Sharia Park will be constructed in collaboration with the private sector, wherein developers will undertake the funding and developing of the project, as against availing the rights of benefiting from the municipality’s land under a Musataha, or land development agreement.

Musataha will entitle the developer to benefit from the project’s returns over 32 years.

Following that, the ownership of the project will fully devolve back to the municipality.

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