Press Releases

Abu Dhabi and Italian business leaders celebrate relationships

The Emirate of Abu Dhabi brings its unique cultural mix of the modern and traditional to Italy in celebration of new and continued business partnerships and the upcoming Italian Grand Prix at Monza.

06 September 2007

The Emirate of Abu Dhabi brings its unique cultural mix of the modern and traditional to Italy in celebration of new and continued business partnerships and the upcoming Italian Grand Prix at Monza.

The hi-tech world of Formula 1 racing meets the classic beauty of Italy when Mubadala, the wholly-owned strategic investment and development company of the Government of the Emirate of Abu Dhabi, hosts an exciting event with three other leading Abu Dhabi businesses including the Abu Dhabi Tourism Authority (ADTA), ALDAR Properties (ALDAR) and Etihad Airways. An elegant dinner will be held on Saturday, 8 September at the world-famous Castello Sforzesco Palace.

Relationships between Abu Dhabi and Italian businesses continue to thrive. Each of the four Abu Dhabi companies hosting Saturday’s event maintains positive connections within Italy. The Abu Dhabi Tourism Authority leads the effort by promoting tourism and welcome visitors to the Emirate of Abu Dhabi.

“The defining characteristic of Abu Dhabi’s approach to such events is an uncompromising commitment to quality and class, said HE Sheikh Sultan Bin Tahnoon Al Nahyan, chairman of ADTA. “We also seek to promote international goodwill and understanding through the medium of culture, art and sporting events bringing together the best that the world has to offer. We see these activities as a vital force for educating and building bridges between peoples. The Formula 1 event epitomises such qualities and values and I look forward to having the Grand Prix in Abu Dhabi in 2009.”

Mubadala which owns five percent of Ferrari, the Italian luxury car manufacturer, is also one of the sponsors of the Ferrari Scuderia Formula 1 team for the 2007, 2008 and 2009 seasons.

“We are pleased to share a small part of Abu Dhabi with Italy through this event,” said HE Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala. “We and our other host companies appreciate this opportunity to show our Italian partners and guests that we value their business and our relationships.”

ALDAR is recognized for its commitment to excellence in urban design, town planning and sustainable developments. ALDAR owns over 30 million square meters of land throughout Abu Dhabi and has announced developments worth more than US$60 billion.

“The volume of interest in ALDAR’s activities from the elite Italian racing fraternity has been phenomenal,” commented Ahmed Ali Al Sayegh, Chairman of ALDAR. “We are delighted to be a part of this prestigious event and look forward to further cementing our relations with the business community in Italy.”

Etihad Airways, the national airline of the UAE, started flights on 2 September from Abu Dhabi to Milan, providing an additional link between the capital of the UAE to yet another of the world’s leading business and leisure destinations.

“By offering more than 1,200 seats each week from Abu Dhabi to Milan, Etihad will play a key role in the growth of commercial and cultural ties between the UAE and Italy,” said James Hogan, Etihad Airway’s chief executive. “Business and leisure travelers from both countries will be able to travel frequently, which will increase bilateral trade, especially in tourism.”

The Emirate of Abu Dhabi will also be the location of Ferrari World, a new theme park which is scheduled to be open in 2009. ALDAR is developing this hi-tech park that will feature simulator rides, roller coasters, an interactive museum, a theater and a race track on Yas Island.

Abu Dhabi is experiencing a stage of accelerated economic growth and is home to an increasing number of businesses considered to be partners of choice. Many of Abu Dhabi’s successful companies hold an international presence and are contributing to the overall rapid economic expansion of the UAE.