TDICtaps debt markets to fund projects

The Tourism Development and Investment Corporation (TDIC) is tapping the private equity market for two new projects, including a retail development on Saadiyat Island.

The company had already sourced two-thirds of the capital for a $150 million (Dh550.76 million) Saadiyat Island retail project, which will be built alongside the Louvre and Zayed National Museums.

TDIC is also pursuing an infrastructure development project valued at $75 million and has around $50 million soft circled meaning investors are interested but have not yet signed up.