ARN News Centre

Abu Dhabi launches AED 600 million fund for events sector

Tuesday, 30 July 2019 13:24

A AED 600 million megafund has been launched in Abu Dhabi to attract major entertainment, leisure and business activities.

It’ll finance projects in the events sector and will also focus on attracting global event organisers to the capital.

The fund is expected to have an impact of around AED 1.6 billion on the local economy.

It’s been set up by Abu Dhabi's Department of Culture and Tourism (DCT Abu Dhabi) and is part of the AED 50 billion ‘Ghadan 21' economic development programme announced last year.

More from Business

UAE-Russia services and investment agreement takes effect

An agreement aimed at boosting trade in services and investment between the UAE and Russia has officially come into force.
UAE backs closer tourism cooperation at BRICS meeting

The UAE has backed plans to strengthen tourism cooperation between BRICS countries at a ministerial meeting in Jaipur, India.
Abu Dhabi DoE expands tech partnerships during US visit

A delegation from Department of Energy - Abu Dhabi (DoE) has concluded an official visit to the United States aimed at expanding partnerships in energy and water innovation, regulation and advanced technology.
US, Canada fail to reach a tariff deal, deepen trade war

The United States and Canada have failed to reach a trade deal late on Friday, and the US said it would impose 50 per cent tariffs on some imports from Canada, an escalation of tensions between the two long-time allies.
Hudayriyat Island tops Abu Dhabi property sales

Hudayriyat Island has topped Abu Dhabi’s real estate market in sales value for a second consecutive quarter.