Abu Dhabi to invest Dh37bn in Al Ain aviation project

Abu Dhabi government is planning to pump nearly Dh37 billion into a mega project involving the construction of an aviation city in the eastern oasis town of Al Ain, an official was reported on Thursday as saying.

Nibras Al Ain Aerospace Park will be one of the biggest and most important aviation ventures in the region and the whole world, said Badr Al Olama, Deputy CEO of Strata. The project is a joint Mubadala Aerospace and Abu Dhabi Airports Company (Adac) initiative

He told local newspapers that the project would involve aviation industries as well as educational and housing facilities.

He said the first phase has been launched, adding that it includes an aviation academy and related facilities.

“This phase will be completed in 2015…we are pushing ahead with the infrastructure of this project to attract foreign investment and encourage global companies to open offices in Nibras,” he said.

Follow Emirates 24|7 on Google News.