The capital city of the United Arab Emirates is preparing for a highly significant advance to boost the economic competitiveness of the emirate. A huge figure of US$100bn for raft of schools, housing, transportation, and other projects will turn Abu Dhabi into a unified, metropolitan global city.
The Director Gen. of Abu Dhabi Council for Economic Dev’t. said that these projects will encourage the responsibility of the private sector and continue the local economy’s development in a way that will bring about attaining the goals of the 20130 economic vision.
The city also estimated that another 825,000sqms of office area will be distributed by 2015 that could be a major boon for the local construction industry as contractors and developers gather together.
The latest report also quoted that Dh7.6bn in investment has been reserved for the Sheikh Zayed project, a modern housing development in a triangle located amongst Khalifa City A, Khalifa City B, and Mohammed Bin Zayed City. It will be a living space to as many as 370,000 Emirati families upon completion.
About Dh11bn will be invested on the transport sector such as developing a 131km metro system in Abu Dhabi to accelerate the flow of traffic and keep pace with the growing population.