Abu Dhabi's Tourism Development and Investment Co (Tdic)Tourism Development and Investment Co (Tdic) is looking forward to lower the cost of its construction projects' tenders likely to be floated in the coming months, a senior official of the company said.

The official said none of the company's projects - all backed by the government of Abu Dhabi - have been either been shelved or have been relegated to the backburner due to dearth of finances.

The company has not disclosed the estimated cost of its project as yet. Officials said they are refraining from declaring the cost of their projects to prevent confusion.

"We have no fixed percentage reduction in costs. But the company is looking for lower bids. And we will be floating a number of tenders in the coming months," Ali Al Hummudi, Assistant Director (Development) at TDICTDIC, told Emirates Business.

Al Hummudi said TdicTdicTourism Development and Investment Company
TDIC  

 is currently focusing on development of two island projects and will take up new projects as and when it sees a potential.

TdicTdicTourism Development and Investment Company
TDIC  
   
 is focused on developments to attract tourists within Abu Dhabi. The company had announced that 12 of its projects worth a "substantial amount" are proceeding and that it is in talks with banks over financing options. "We're in discussion with banks for loans, in terms of sukuk and bond issues," James Pringle, TdicTdicTourism Development and Investment Company
TDIC 

's Executive Director of Development said recently.

"We're taking advantage of our portfolio, our AA credit rating and the areas of liquidity that still exist around the world," he said, without revealing how much the firm plans to raise.

The company's largest projects include the 87 sqkm Desert Island and the 27 sqkm Saadiyat Island. "The Desert Island is a long-term project and it will take eight years to complete. However, some of the resorts and hotels will open gates in 2010 and 2011," Lars Nielsen, the company's Senior Marketing Manager, said.

Another company official said the Saadiyat Island project will be complete by 2020. "However, development on the island will emerge one by one. The bridge linking the island will be open to traffic in September this year," he said.

TdicTdicTourism Development and Investment Company
TDIC  
 
 last month received AA ratings from Moody's, Standard ?& Poor's and Fitch. The projects include city centre and island retreats, luxury waterfront resorts and downtown business tourism centres in Abu Dhabi. Over the next five years, TdicTdicTourism Development and Investment Company
TDIC  
 
 is to build 7,000 hotel rooms. Pringle said TdicTdicTourism Development and Investment Company
TDIC  
 
 is developing a total of 106 projects both inside and outside Abu Dhabi.