 The museum is part of a larger complex of arts and cultural institutions that is being built on Saadiyat Island intended to appeal to international tourists.On July 8, 2006, the city of Abu Dhabi, capital of the United Arab Emirates, announced it had signed an agreement with the Solomon R. Guggenheim Foundation in New York City to build a Guggenheim Museum on Saadiyat Island.The Guggenheim stated in 2008 that "Abu Dhabi's Tourism Development & Investment Company ...will own the museum", while "[t]he Guggenheim Foundation will establish and manage" its program.