Abu Dhabi government is planning to pump nearly Dh37 billion ($10 billion) into a mega project involving the construction of an aviation city in the eastern oasis town of Al Ain, an official was reported as saying.

Nebras will be one of the biggest and most important aviation ventures in the region and the whole world, said Badr Sultan, Deputy CEO of Strata, an aerospace company controlled by the Abu Dhabi-based Mubadala.

He said the project would involve aviation industries as well as educational and housing facilities.

He stated that the government-owned Mubadala had launched the first phase of the project, adding that it includes an aviation academy and related facilities.

“This phase will be completed in 2015...we are pushing ahead with the infrastructure of this project to attract foreign investment and encourage global companies to open offices in Nabras,” he added.

Source: Emirates 24|7