The capital city of United Arab Emirates is preparing for a highly significant advance to boost the economic competitiveness of the emirate. A huge figure of US$100 billion for raft of housing, schools, transport and other projects will transform Abu Dhabi into an integrated, cosmopolitan global city.
The Director General of Abu Dhabi Council for Economic Development said that these projects will empower the role of the private sector and sustain the local economy’s growth in a manner that will lead to accomplishing the objectives of the economic vision 2030.
The city also estimated that another 825,000 square meters of office space will be delivered by 2015 that could be a major boon for the local construction industry as contractors and developers mobilize.
The new report also quoted that Dh7.6bn in investment has been earmarked for the Sheikh Zayed project, a state-of-the-art housing development in a triangle between Khalifa City A, Khalifa City B and Mohammed Bin Zayed City. It will be home to as many as 370,000 Emirati families when complete.
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.