Atlas Telecom and National Investor launched tourism infrastructure projects valued at Dh6 billion.
The announcement of the project, which comprises mainly hotels and resorts, came on the sidelines of a conference organised by the Abu Dhabi Tourism Authority (ADTA) at the Abu Dhabi National Exhibitions Centre to announce its five-year plan.
Abdullah M Mazrui, Chairman of National Investor, said his company has already started a project worth Dh2bn near Hilton Abu Dhabi.
Comprising a five-star hotel, a conference centre and facilities to host exhibitions, it is due to be complete in 2011.
Mazrui also said his company was in discussions with the ADTA regarding the implementation of projects in the Western Region and Saadiyat Island.
The Saadiyat Island is a Dh500m venture with more than 13 luxury developments, he added. Mazrui said returns on investments in Abu Dhabi tourism sector range between 15 per cent to 25 per cent, which is the best among all sectors.
Ahmed Seddiq M Samea Al Mutawaa, President of Atlas Telecom, said his company will implement projects worth Dh3.5bn over the next three years.
The first of these projects is the Dh700m Regent Hotel, situated in front of Emirates Palace.
Projects to build tourism infrastructure launched