Dubai: The Government of Dubai's Department of Finance today announced a large portfolio of projects worth Dh25 billion. The portfolio includes more than 30 significant projects in the infrastructure, public transportation and urban development sectors.
The project was launched during the First Dubai International PPP Conference organised by the Department of Finance under Expo 2020.
The public-private partnership (PPP) project portfolio, worth more than Dh25 billion spans several vital sectors. With the announcement, the total value of both existing and newly announced PPP projects in Dubai has exceeded Dh65 billion.
The investments, announced at a PPP conference held in the regional tourism and business hub, include:
- Seven urban development projects worth Dh22.58 billion
- Fourteen road and transport projects worth Dh2.39 billion
- Eight projects in health and safety at Dh526 million
The announcement was made in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, at the Dubai International PPP Conference.
“The new portfolio of PPP projects seeks to further harness synergies between the two sectors to shape our future over the next 50-year phase,” said Sheikh Maktoum. “The new projects provide private sector players with exceptional opportunities and will create ideal conditions for private sector companies to contribute towards Dubai’s future.”
PPP has become the next global innovative trend for governments around the world seeking to finance their infrastructure and urban development projects
"The Dubai International Public-Private Partnership Conference represents a key initiative for generating new public-private partnerships that will help accelerate Dubai’s journey to the future,” said Abdulrahman Saleh Al Saleh, Director-General of Department of Finance. “It paves the way for an exchange of ideas and insights between decision-makers in both public and private sectors and the exploration of new partnership opportunities.”
Abdullah Al Basti, Secretary-General of The Executive Council of Dubai, said "It is not a coincidence that the private sector has chosen to partner with Dubai. The emirate has topped global indices for creating the most attractive business destinations in the world. It offers a competitive environment that facilitates growth for both regional and global businesses.”
• Launch of the Dubai Schools project, which will hold an investment of over Dh580 million in the coming years.
These projects, in addition to many other strategic partnerships, have shaped a qualitative leap in the development process across the emirate.
The two-day conference, organised by the Department of Finance is the first-of-its-kind event hosted by the government in the MENA region. On October 11, Department of Finance will hosting a co-located exhibition featuring DEWA, Dubai RTA, Dubai Municipality, and DHA. The four entities will present their proposed PPP projects to an international and regional audience across various sectors.
The event will bring together decision makers and officials from ministries, government entities, banks, and both local and international companies from across various sectors.