Dubai: Dubai Municipality has finalised its investment plan for it’s properties, which is in line with the Dubai Strategic Plan 2021.
Hussain Nasser Lootah, Director General of Dubai Municipality, said that investment projects carried out by the municipality and other investors to provide public services are around Dh3.568 billion.
The real volume of the investment for 20 investment projects that was funded by the Municipality was Dh1.26 billion and the return on investment last year was more than Dh105.2 million.
Investments from the private sector in 27 projects that are part of the Municipality’s properties reached more than Dh2.3 billion at the end of last year.
Khalifa Hareb, Director of the Properties Department at Dubai Municipality, said the return on investment from Municipality projects was six per cent in 2013, with Dh224.5 million.
Return
This grew to 6.5 per cent in 2014, with Dh227.9 million and jumped to 7.7 per cent in 2015, with Dh272.3 million return on investment.
He said that those investments helped alleviate the pressure on the municipality budget since 2013.
Some of the investment projects that are in the planning phase include: The Furniture and Antiques market, A building materials market, a project for refrigerated warehouses for vegetable and fruits storage, which will include 56 warehouses.
In addition to future projects such as boat market, a car’s accessories market, a tyres recycling facility, a cactus garden and other recycling projects.
