Abu Dhabi’s National Corporation of Tourism & Hotels (NCTH) has signed an agreement Abu Dhabi Commercial Bank (ADCB) to finance the construction of a planned five-star hotel in Abu Dhabi.

The two groups signed a deal on 10 October to finance the new Hotel Le Bristol planned in Abu Dhabi.

“ADCB is committed to supporting projects that help the development of the UAE’s economy and the Abu Dhabi economic plan and 2030 vision. We look forward to the construction and development of Hotel Le Bristol and the positive addition it will make to promoting and supporting Abu Dhabi’s thriving tourism industry,” said Eissa al-Suwaidi, chairman of ADCB.

The proposed hotel will be built on the Al-Bateen seafront area in Abu Dhabi. Construction work on the project is due to start in 2012.