Dubai ruler announces projects worth 2.1 trillion dirhams — The National

Dubai ruler Sheikh Mohammed bin Rashid has announced in the UAE a portfolio of active projects in the emirate worth 2.1 trillion dirhams. The investments cover housing construction, transport, aviation and infrastructure, The National reports.

Sheikh Mohammed announced the project portfolio during the Mohammed bin Rashid Leadership Forum at the Dubai World Trade Centre. One thousand representatives of the public and private sectors, as well as experts, executives and academics, took part in the event.

According to Sheikh Mohammed, the emirate is “building a city within a city,” and new projects are to be announced later. He said Dubai is investing heavily in housing, transport and infrastructure as it prepares for a new phase of economic growth.

Housing and aviation

Real estate development is allocated 1.1 trillion dirhams through 2030. About 350,000 housing units are planned to be built.

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Another 128 billion dirhams has been allocated for Al Maktoum International Airport, which is being designed to handle up to 260 million passengers a year. A total of 328 billion dirhams is planned for expanding the fleets of Emirates and flydubai, while 18.7 billion dirhams is allocated for a new Emirates maintenance and repair complex.

Transport and urban infrastructure

A total of 100 billion dirhams is allocated for road upgrades and Dubai Metro’s Blue and Gold lines. Another 151 billion dirhams will be directed to new electricity grid and water supply infrastructure.

Dubai’s strategic sewer tunnel system is allocated 80 billion dirhams. An additional 100 billion dirhams has been allocated for the development of the second phase of the Dubai International Financial Centre.