Sheikh Mohammed approves largest budget in Dubai's history

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the Government of Dubai's general budget cycle for the fiscal years 2026-2028, and the Dubai Government’s general budget for the fiscal year 2026.

The three-year budget cycle for 2026-2028 has been approved with a total expenditure of Dh302.7 billion and total revenues of Dh329.2 billion. This budget cycle is the largest in the emirate’s history.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, said: “Dubai’s general budget cycle for 2026–2028 provides a financial roadmap that accelerates Dubai’s ambitions to enhance the growth of its key sectors and solidify its position as a global economic centre.” 

Doubling Dubai’s GDP

“This budget reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to advance the emirate’s strategic objectives, most notably doubling Dubai’s GDP and positioning it among the world’s top three urban economies within the next decade, while maintaining a balanced approach between ambitious growth and economic stability, supported by prudent fiscal policies.” His Highness added.

“The budget reinforces our commitment to future-focused sectors and ushers in a new phase of knowledge-driven, innovation-led growth in the digital economy. It expands opportunities for local entrepreneurship and supports a high-growth environment across all key sectors. The fiscal sustainability and competitiveness reflected in this budget further enhance Dubai’s appeal to global investors and innovators, laying a strong foundation for the emirate to realise its long-term aspirations and build a prosperous future,” Sheikh Hamdan further said.

The 2026–2028 financial cycle embodies Dubai’s forward-looking vision, with strategic investments in space research, digital transformation, and artificial intelligence, while fostering entrepreneurship and creating a dynamic environment for diverse economic sectors across the emirate.

'People at the heart'

Sheikh Maktoum bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, tweeted: “The approval by His Highness Sheikh Mohammed bin Rashid Al Maktoum of the highest budget in Dubai’s history for the 2026–2028 cycle is a clear message that Dubai’s ambitions know no limits, that its projects continues to advance without pause, and that the well-being and quality of life of Dubai’s people remain at the heart of our government’s work.

"His Highness’s approval of this budget is a reminder that the future is being built today in Dubai, and that it will remain at the forefront of global cities and a source of inspiration every single day. Under the directives of His Highness and the follow-up of Sheikh Hamdan bin Mohammed Al Maktoum, Government teams will continue delivering on this vision, working as one across all sectors, ensuring that Dubai remains the most beautiful city, with the highest quality of life, and the best place to live in the world.”