UAE: ARABS ARE SURGING AHEAD!

Dh330billion projects for Abu Dhabi in next five years

(Staff Reporter) / 13 January 2013
Khaleej Times (Dubai)
1$=3.65 Dirhams
ABU DHABI - Hundreds of billions of dirhams will be funnelled into a raft of new projects set for Abu Dhabi, including housing loans, housing construction and thousands of new jobs.

General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, announced the Dh330 billion grand plan at a meeting of the Council on Sunday, saying such proposals would turn the vision of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, into reality.  

“This vision aims to foster Abu Dhabi progress and development as it should be and strengthen the UAE’s status as an economic and social example to be emulated by other world countries,” General Shaikh Mohammed said.
The projects, to be completed between this year and 2017, will largely benefit Emiratis and include Dh3 billion in new housing loans to be shared amongst 1,500 people, 5,000 new jobs to be created during 2013 alone, and housing projects in Al Ain and the Western Region.
The Council said its decision to offer loans follows Shaikh Khalifa’s eagerness to ensure an “honourable, dignified and stable life for citizens and their families”. It said the loan offer was in keeping with the decades-old policy adopted by Abu Dhabi to ensure social and economic stability amongst citizens.
The loans will be distributed to Abu Dhabi, Al Ain and the Western Region citizens, with the chosen recipients yet to be named. There is to be 834 beneficiaries from Abu Dhabi, 618 from Al Ain and 48 from the Western Region. Over the past three years, 6,416 housing loans — worth Dh13 billion — have been distributed to Abu Dhabi citizens.
The Council also approved the establishment of housing projects providing 786 housing units and plots of land in Mezyed, Umm Ghafah and Ne’mah in Al Ain, as well as in Bida Al Mutawa in the Western Region. Contractors will soon be selected by government departments to undertake the construction.
In another project, the Council has made provision for 5,000 new jobs this year in a bid to help develop the Capital’s economy and retreat from its dependence on oil and gas revenues. Other initiatives to help diversify the emirate’s economy include the development of “specialised economic zones” to apply to specific industries. Each zone will offer financial exemptions to investors, with the Council guaranteeing the development of advanced transport and communication infrastructure in these zones.
The Council has also directed Abu Dhabi Food Control Authority to help open new channels that encourage the sale of animal husbandry products in the local market in order to support local breeders and increase local productivity.
The first stage of a sewerage system upgrade has also been approved by the Council, as it braces itself for the growing demands of a rapidly increasing population — the rate of which continues to grow.
The project, to serve areas including Al Nahdhah Al Jadeedah, Al Wathba, Bani Yas, Khalifa City (B), Al Falah, Al  Heliyah, Al Mua’zzaz, Al Shawamekh and Al Mafraq, will collect waste water from the existing 12 stations and channel it to a central station, currently being built. The project will include one of the longest sliding sewerage tunnels in the world.
The Council said the projects should be of the highest standards which would guarantee the achievement of the Abu Dhabi 2030 vision objectives.
“The noblest objective we work towards is to ensure every citizen’s welfare and stability. As such, most of our efforts are geared to allow our sons to enjoy the benefits of development and help them contribute, through their creative potential, to the overall development of the country,” Gen. Shaikh Mohammed said.