The Abu Dhabi Urban Planning Council (UPC) has approved a slew of new projects, reflecting positive organic growth in the capital at a time when oil prices are slumping. The UPC more than tripled the total floor area of projects spanning commercial, retail and residential properties from the second quarter of last year. Twenty-six development projects spanning a total floor area of more than 2.3 million square metres have been approved.
The oil price is forcing many Gulf economies to re-evaluate budgets and cut back on a variety of subsidies, so the UPC’s surprise announcement demonstrates crucial movement towards the realisation of the Abu Dhabi 2030 economic vision, which lays out several economic diversification benchmarks for the capital. By 2030, the plan calls for the non-oil sector to contribute 64 per cent to the emirate’s GDP. As a reference, non-oil activities contributed 45 per cent to Abu Dhabi’s GDP in 2013, up by two percentage points from 2012.
These approvals suggest a certain appreciation for recent IMF recommendations for the UAE to diversify its infrastructure development away from large-scale projects and focus on smaller construction and urban land development. Given the robust nature of the capital’s economy, it makes sound sense to focus on the building of housing and infrastructure as a way of facilitating the goal of the 2030 economic vision.
Indeed, the projects just approved include a block of three residential towers, which will each be 24 storeys high, facing the Abu Dhabi Corniche and featuring retail and commercial units on the ground floor. In Mohammed Bin Zayed City, a 300-bed specialist hospital on an 82,000 sq metre site was given the go-ahead, while Abu Dhabi University in Al Ain was granted permission to expand.
Significantly, the UPC’s executive director for urban development, Mohamed Al Khadar, said that he expected the trend of approvals to continue, with more to come in the third quarter. Overall, the amount of gross floor area expected to be approved this year would be 15 to 20 per cent higher than in 2014.
This is further validation of Abu Dhabi’s economic strategy to achieve steady growth rather than seeking overrapid development through large projects.
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A