Construction Dubai approves PPP projects worth nearly $11bn By Pramod Kumar March 22, 2024, 5:12 AM Unsplash.com/ZQ Lee Dubai's new PPP projects portfolio will cover 10 fundamental economic sectors from 2024 to 2026 The Dubai government has approved public-private partnership (PPP) projects worth AED40 billion ($10.89 billion) to boost economic growth and infrastructure development. The new PPP portfolio, managed by the emirate’s finance department, will include a range of projects to boost cooperation and build new collaborations between the public and private sectors, state-run Wam news agency reported. NewsletterGet the Best of AGBI delivered straight to your inbox every week “Launching an abundant, strong portfolio of projects is a fundamental pillar of the government’s PPP strategy,” said the Department of Finance’s (DoF) director-general Abdulrahman Saleh Al Saleh. The new PPP projects portfolio will cover 10 fundamental economic sectors from 2024 to 2026. Dubai’s non-oil economic growth at five-year high Infrastructure projects to lift UAE construction sector Dubai mortgage holders squeezed by end of low fixed rates No details were given on the PPP project list. “PPP projects are a powerful tool for achieving sustainable development and improving the lives of individuals and communities,” said Muna Ahmad Abdulla, director of the capital projects division at DoF. In 2023, Dubai’s finance department launched DP3, a digital platform for managing PPP projects. The platform offers services across all stages: project identification and evaluation, implementation, and operation commencement.
Renewable Energy UAE plans $6bn solar energy storage plant The UAE will construct a renewable facility capable of providing energy at scale around the clock. The project – estimated to cost $6 billion – will be developed in partnership between the UAE state-owned renewables company Masdar and the Emirates Water and Electricity Company (Ewec). The new facility will include solar power with the potential […] 1 hour ago
Retail Sales rise 18% for airport retailer Qatar Duty Free Airport retailer Qatar Duty Free has reported an 18 percent sales increase for 2024. The rise was higher than passenger growth at Hamad International Airport in Doha, which increased 15 percent to 52.7 million. Qatar Duty Free, a subsidiary of Qatar Airways that owns and operates the airport’s shopping and food outlets, did not release […] 11 mins ago
Economy Slow restart predicted for GCC aid to Lebanon A resumption of badly needed GCC financial aid to Lebanon may take time, even though most Gulf countries have given their blessing to the new Lebanese president Joseph Aoun, according to observers. The six nations of the Gulf Cooperation Council were previously among the biggest aid donors and investors in Lebanon, before they cut assistance as […] 11 mins ago
Mining Saudi Arabia grants exploratory rights to six mining sites The Saudi Ministry of Industry and Mineral Resources has allocated mineral exploration rights for six mining sites with a combined size of 890 sq km, according to the Saudi Press Agency. On Tuesday, the ministry announced that mining company Amak has been granted three exploratory concessions in Jabal al Khallah North (98 sq km) and […] 26 mins ago
