ADFD Highlights Strategic Investment in Sustainable Tourism for Economic Diversification

On World Tourism Day, the Abu Dhabi Fund for Development (ADFD) emphasised its strategy of investing in sustainable tourism projects to drive economic diversification, strengthen local economies, and create lasting value. ADFD's approach focuses on the broader economic impact of these investments, integrating hospitality and cultural assets with the necessary infrastructure to support their surrounding destinations.

Key Regional Investments

The ADFD's portfolio includes significant projects across the region:

• Egypt: An investment of AED 440 million ($119.8 million) in the Sofitel Legend Pyramids Giza project, strategically located near the country's historic cultural landmarks.
• Oman: Development of an AED 764.5 million tourism complex in Salalah. This expansive project covers 2.5 million sq m and incorporates hospitality facilities, a marina, coastal development, roads, and public utilities.
• Morocco: Support for the Asilah Museum, aimed at enhancing cultural infrastructure, preserving the city's heritage, and boosting its tourism appeal and local economy.

According to Rashed Al Kaabi, Acting Deputy Director General and Executive Director of Investment Sector at ADFD, these investments are designed to generate value across the wider economy by attracting further investment and creating opportunities for local communities. The fund prioritises projects based on their potential for broader economic impact and their contribution to sustainable growth in partner nations.