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ABU DHABI TO INVEST US$200 BLN IN INFRASTRUCTURE PROJECTS BY 2030.
ABU DHABI, July 1 Asia Pulse - 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 per cent of the GDP in 2008, while the real estate and construction sectors accounted for 4 and 9 per cent, 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 per cent population growth over the next five years, to 1.3 million".
He added that this projected increase will result in need for an additional ...
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