Cyber Gear UAE Today
Guest Posts

Abu Dhabi to invest US$200 billion in infrastructure projects by 2030

In line with its strategic plan (2008-2012), the emirate of Abu Dhabi is aiming to create sustainable industrial growth driven by the ongoing economic boom. Utilising the windfall from a five-fold increase in oil prices, the UAE’s capital has posted an impressive growth in non-oil sectors, with the manufacturing sector accounting for 11 percent of the GDP in 2008, while the real estate and construction sectors accounted for 4 and 9 percent, respectively. These figures reflect the serious efforts being made by the emirate to achieve diverse economy, in a bid to reduce reliance on oil revenue. CEO of RAKAA Properties Dr Abdulraman Al-Tassan, said, "Abu Dhabi will be focusing on developing infrastructure projects to cater to the needs of its growing population. The emirate is planning to spend upwards of US$200 billion on infrastructure projects, as part of Plan Abu Dhabi 2030, amidst forecasts of 40 percent population growth over the next five years, to 1.3 million". He added that this projected increase will result in need for an additional 700,000 residential units over the coming two decades, to cater to a population that may reach 3.5 million by 2030. Currently, there are estimated 180-200,000 residential units in the market. Al Tassan, whose company is developing three smart home technology-equipped towers on Al Reem Island, continued, "Abu Dhabi is leading the way in looking for alternative energy sources and developing its industrial sector. The emirate has played host to the latest technological trends, such as the recently unveiled ’The Reem B Robot’, one of the most advanced robots in the world, which has the ability to recognise face, voice and objects, and to map and navigate its environment." The manufacturing sector, which accounted for 11 percent of Abu Dhabi’s total GDP in 2008, is projected to continue to grow as mega projects in heavy and light industries, foodstuff industries and other non-oil manufacturing industries are launched in the emirate. The industrial boom, coupled with tremendous investment opportunities, will reduce reliance on oil revenue by 10 percent over 15 years.

View News Headlines

We accept guest posts, contact us now  
Another Cyber Gear site