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Tuesday, November 5, 2024
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Abu Dhabi launches $100m fund to attract iconic global restaurants

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ABU DHABI: Department of Culture and Tourism – DCT Abu Dhabi has launched a new $100 million Culinary Investment Fund (ADCIF) to attract iconic restaurants to the UAE capital. The fund will boost the emirate’s culinary scene by establishing a new culinary school, offering core curricula and two new degree programs focusing on marine sustainability and food safety.

Applicants must be globally recognized chefs or brands with operations in multiple geographies. DCT Abu Dhabi said in a statement on Wednesday that they should offer a premium leisure, lifestyle or gastronomic experience and make their Abu Dhabi debut during a one-year franchise.

In return, ADCIF will co-invest with local asset partners and provide incentives for chefs and culinary establishments to make Abu Dhabi their new home.

“There has never been a better time and place than now to bring leading chefs, restaurant and hospitality brands to the capital and create new dining experiences,” said Saleh Mohamed Al Geziry, Director of Tourism, DCT Abu Dhabi. “This fund, combined with the culinary school, will ensure that Abu Dhabi attracts more tourists from around the world.”

Abu Dhabi’s dining scene is gaining global recognition with the launch of the first-ever Michelin Guide Abu Dhabi, awarding 42 restaurants and returning to the MENA region’s 50 best restaurants. DCT Abu Dhabi will soon announce the first two recipients of the new Abu Dhabi Culinary Investment Fund.

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