Tuesday, 02 January 2024 12:17 GMT

Abu Dhabi To Invest Dh240 Billion In Infrastructure Over The Next 7 To 10 Years


(MENAFN- Khaleej Times)

Abu Dhabi will invest Dh240 billion ($65.4 billion) over the coming years in infrastructure development, with a strong role for private-sector entities, as the emirate sees its population doubling by 2040, a senior official said on Monday.

“A lot of people think infrastructure is construction, but it touches a lot of different economic sectors - hospitality, healthcare, education, construction and transportation, etc. When the government actually pumps a lot of investment into infrastructure and developing these assets, there's a strong multiplier effect that generates economic activity across many sectors.

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"We are now planning to invest over Dh240 billion in infrastructure projects over the next 7 to 10 years. This cannot be done only by the government, and that's why we are involving the private sector,” said Mohamed Al Shorafa, chairman of the Abu Dhabi Department of Municipalities & Transport.

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“We believe the more infrastructure there is, the more we can actually generate economic growth and increase our residents' exposure to Abu Dhabi's infrastructure. In addition to expanding infrastructure, we have also maintained the quality of life in Abu Dhabi, as it has been attracting people to come here. It is part of your strategy as well,” he said during a fireside chat at Abu Dhabi Finance Week.

'Livable and lovable city'

During the interview, he said Abu Dhabi has“developed a new strategy called livable and lovable. It's not only the assets we try to build; there are many non-physical aspects, the quality of those assets, and how they can contribute to the well-being of nationals, residents, and tourists coming to Abu Dhabi. We have to look at the complete journey of all the components of our population, even blue-collar,” he said during the interview.

He added that the Livability 2.0 programme will be introduced in early 2026 and will include 120 components of quality of service related to infrastructure, ranging from education to accessibility to healthcare, social services, and others.

“It is very important that we try to develop all this infrastructure with the assistance of the private sector. The government of Abu Dhabi is wealthy. It's not a matter of that we are looking for financing, but it's important to introduce private investment into our infrastructure as well,” he said, citing examples of the introduction of autonomous vehicles by the private sector in the UAE capital.

The chairman of the Abu Dhabi Department of Municipalities and Transport revealed that at the end of 2025 and mid-2026, many new green parks will be built in Abu Dhabi.

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Khaleej Times

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