An aggressive business plan recently launched by Abu Dhabi Commercial Bank (ADCB) is expected to make it a major player in the real estate developments in Dubai and Abu Dhabi.
ADCB, in collaboration with Australia's Macquire Bank, have taken up specialized infrastructure projects is having a proactive role in many of the largest real estate developments in the region according to Khaleej Times.
It is involved in several mega infrastructure related projects in the Industrial City of Abu Dhabi, setting up a big investment fund, while it is also involved in the Palm Water project in Jumeirah that recently invited an expression of interest (EOI) to tender and award a design build and operate project for a major sewerage treatment plant (STP). Contractors will be short-listed for the deal at some point in the coming month.
The bank earned a record net profit of Dh1.616 billion for the nine month period of 2006 over Dh1.425 billion for the same period last year, reflecting a13 percent increase.
