Abu Dhabi: The emirate of Abu Dhabi’s municipal sector is hoping to attract Dh5 billion in private sector funds over the next two years.
The investment will be used to support a slew of community development projects across the emirate, top officials announced on Sunday at the Abu Dhabi Business Forum in the capital.
“We are offering 53 community investment opportunities on a build-operate-transfer basis to private sector investors. These include community centres, multistorey car parks, tourist attractions, public parks and kiosks,” said Khalifa Al Mazroui, undersecretary at the Department of Municipal Affairs and Transport (DMAT).
The DMAT, which regulates the emirate’s municipal and transportation sectors, will issue tenders for most of the initiatives in the second half of 2016 and the first quarter of 2017. It also expects to continue with Dh37 billion worth of road infrastructure, urban development and transport projects.
A further 47 community developments, valued at Dh10 billion, will also be announced by 2020, Al Mazroui said.
The forum was organised by the DMAT, the Abu Dhabi Department of Economic Development (DED) and the Abu Dhabi Chamber of Commerce and Industry. Hundreds of private sector executives, government officials and regulators met to discuss the emirate’s commercial prospects, as well as the challenges facing businessmen and investors in the shifting economic climate.
According to top officials at DED, there has been an 80 per cent increase between 2010 and 2015 in the contribution of the non-oil sector to the UAE’s GDP. 28 per cent of the emirate’s GDP in 2013-2014 came from the private sector.
“Despite these positive trends, participation by the private sector in development efforts has not met government ambitions,” said Ali Al Mansouri, chairman at the DED.
Among the projects announced today are the development of Bahia waterfront, the construction of a fisherman’s pier off Zayed Port, and the refurbishment of many public parks. Investors can also apply to build up to 50 kiosks around Abu Dhabi Island, or three car parks in locations off Hamdan Bin Mohammad Streets and Khalifa Bin Zayed the First Street.
There are also 30 community centres, mainly in the capital’s suburbs like Shawamekh, Shahama and Baniyas, as well as in Al Ain. Municipal representatives told Gulf News that these will provide residents with convenient access to government services, as well as to facilities like sport centres and entertainment venues.
Meanwhile, the Higher Corporation for Specialised Economic Zones, which is in charge of developing and overseeing industrial areas, said it will soon offer ready factories that can be used by private sector investors for their manufacturing processes.
Attendees at the business forum called for more effective channels of communication with government entities and legislators, saying that a slowdown in commercial activity is often the result of inadequate information being made available.
