(MENAFN- Khaleej Times)

Abu Dhabi is seeking $54 billion in private sector investments for infrastructure projects over the next five years, and aims to double that by 2040, the head of Abu Dhabi Projects and Infrastructure Centre (ADPIC) said on a tour of Istanbul.

Officials from ADPIC, which manages government capital projects, met with Turkish contractors, developers and construction companies during the visit to Turkey, which came after separate trips to Singapore and China.

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The group will decide on a short list of companies from Turkey, Singapore and China for the planned domestic projects, ADPIC director Maysarah Mahmoud Salim Eid told reporters on Wednesday, in remarks for release on Thursday.

ADPIC, which also oversees project implementation and delivery for the emirate, shares "a common vision (in) infrastructure development" with Turkey, Eid said.

"We are still in the discussion phase (and) there are some short-listed companies," he said, adding announcements will be made after mutual agreements are set.

China and Turkey are first and second respectively in a global ranking this year of top contractors, according to ENR's "Top 250 International Contractors" list.

Turkish contractors undertook over $31 billion worth of new projects abroad in 2024, Turkish Contractors Association data shows. The UAE was their top market with $6.1 billion in projects.

Dogus, Kalyon and Summa were among top Turkish contractors attending the ADPIC roadshow.

Eid said that as part of the group's "mega portfolio" of projects are bridges and tunnels that are linked to the UAE's broader economic growth and diversification plan.

Much of the planned investments are in "social infrastructure" including national housing, accounting for about 50% of the portfolio, as well as schools and community facilities, he said.

"Our budget, until 2030, is $54 billion. This is for the coming five years. And we are expecting this number to double across the next years until 2040," Eid said.

The projects, including public–private partnerships, will be in Abu Dhabi, Al-Ain city and the Al-Dhafra region, he said.

Financing can be funded through the Abu Dhabi government directly and executed through foreign consultants and contractors, based on outcomes of the roadshow, Eid said.

It can also be funded through partnerships, investment with either real estate developers or investors who are ready to invest in infrastructure and enter a long-term partnership, he added.

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