The Abu Dhabi Investment Office (ADIO) today announced that it is partnering with homegrown cycling brand Wolfi’s as part of its AED 2 billion (USD 545 million) Innovation Programme creating growth opportunities for businesses in Abu Dhabi.
Wolfi’s, an established player in the cycling community, is the first company operating within the tourism sector that ADIO welcomes to the programme. In line with the emirate’s goal of developing investment opportunities in sustainable tourism, the Innovation Programme supports high-growth companies and helps them tap into the sizeable sectoral opportunities available. With world-class facilities, established road and air connectivity, and a wide range of first-class accommodation, the emirate is home to advanced infrastructure that can support the growth of the tourism sector.
Under the partnership, ADIO will provide Wolfi’s with financial and non-financial incentives to increase cycling access and participation at events, as well as support Abu Dhabi’s vision to become a global cycling destination by strengthening the emirate’s cycling infrastructure. This in turn will create new ways for tourists to discover Abu Dhabi’s attractions.
As the UAE’s leading cycling brand, Wolfi’s geographical expansion also strengthens the emirate’s positioning as the Middle East and Asia’s first UCI Bike City, a prestigious label from the Union Cycliste Internationale that recognises efforts to promote cycling. The latest addition to the emirate’s growing cycling infrastructure forms part of wider efforts under the Bike Abu Dhabi enabling platform to make cycling a part of people’s everyday lives by fostering links between three critical elements for cycling growth: mobility, health and leisure, and sport.
H.E. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, said: “Abu Dhabi is continuing its tourism push, as it seeks to diversify its economy towards high value-added areas. ADIO’s Innovation Programme offers a boost to ambitious companies looking to participate in the vast opportunities within the emirate’s growing tourism industry by helping them leverage the emirate’s advantages as a destination. We will work with the private sector to create jobs, attract talent, develop infrastructure and, most importantly, shape a vision for the future.”
Mohamed Al Dhaheri, Acting Executive Director – Business Enterprise, ADIO, said: “ADIO is opening up tourism investment opportunities in Abu Dhabi through the Innovation Programme. A leading cycling brand such as Wolfi’s will significantly boost the regional and international cycling communities’ interest in Abu Dhabi, with its state-of-the-art offering of bicycles, e-bikes and equipment, as well as the unparalleled expertise and innovation of its team. The partnership will create eco-friendly and healthy ways for local and international tourists to discover the emirate’s vast natural landscapes. We are excited by the partnership’s multi-faceted benefits, which include enabling exploration and encouraging a healthy lifestyle, while aligning with Abu Dhabi’s overall tourism and cycling vision.”
With ADIO’s support, Wolfi’s is developing showrooms across Abu Dhabi in four destinations – Hudayriyat, the new Reem Mall on Reem Island, Yas Marina Circuit and the Abu Dhabi Cycling Club’s new retail and track facilities in Al Ain – offering a vast range of bicycles for purchase or rental in close proximity to Abu Dhabi’s cycling destinations. The Hudayriyat flagship store houses the largest bicycle showroom in the Middle East.
The partnership between ADIO and Wolfi’s increases access to cycling for domestic and international tourists to explore Abu Dhabi by bike, promoting unique tourist attractions and showcasing the emirate’s landscapes in an eco-friendly way. For example, the Al Ain location offers a novel way to explore the whole emirate, along with new areas that tourists and residents might not have previously known. Additionally, Wolfi’s will develop “Made in Abu Dhabi” electronic bicycles suited to the local terrain, enabling exploration of the emirate’s cycling network.
Wolfgang Hohmann, Founder and CEO of Wolfi’s, said: “Today's announcement marks a vital milestone for Wolfi's cycling brand name. With ADIO coming on board as a partner, we will have an experienced government partner that will assist us in accelerating the roll-out of our strategic roadmap of promoting the cycling culture and tourism in the UAE capital, with a focus on community involvement, which we believe is an important part of the emirate sustainable tourism initiatives. There's no doubt that the opening of Wolfi's new state-of-the-art showroom at Hudayriyat will develop, enhance, and promote cycle tourism in the capital.”
Wolfi’s expansion to Abu Dhabi will boost and nurture the local cycling community. Wolfi’s will continue to play a pivotal role in increasing the numbers of cyclists participating in health and fitness activities, adding to the 1.2 million people that have attended their weekly rides and online events. The company will base its e-commerce and customer service support team in Abu Dhabi, bringing in a group of highly or uniquely skilled employees to support the burgeoning community. It will also engage with schools to promote cycling education, while encouraging healthy lifestyles and showcasing Abu Dhabi as a global cycling and tourism hub.
In addition to the tourism sector, ADIO’s Innovation Programme provides incentives to businesses within high-growth areas including information and communications technology, financial services, agriculture technology and health services & biopharma. The programme has allocated AED 1 billion to support innovative companies since its 2020 launch.