Infrastructure $54bn private investment sought for Abu Dhabi infrastructure By Megha Merani December 2, 2024, 11:28 AM Alamy via Reuters A construction site in Abu Dhabi. The Adpic programme aims to transform the emirate's tourism sector as well as housing and transport Public-private partnerships Vison 2030 momentum Focus on livability Abu Dhabi is overseeing more than 600 infrastructure projects valued at more than AED200 billion ($54 billion), representing an opportunity for the private sector to collaborate on a pipeline of projects that are integral to the emirate’s Economic Vision 2030 plan, a senior official said. The projects, being led by the Abu Dhabi Projects and Infrastructure Centre (Adpic), are part of the emirate’s push to boost livability. Adpic’s acting director general Maysarah Eid said the UAE capital is relying heavily on public-private partnerships (PPPs) to execute its agenda and achieve its ambitious development goals and diversify the economies away from a reliance on oil revenues. “Public-private partnerships are a critical element for us and in our strategy,” he told the LiveableCitiesX summit in Dubai last week. “By partnering with developers and the private sector, we [are] always determined to shape projects that not only meet immediate needs, but also to anticipate future demands of the growing emirate.” The programme aims to transform Abu Dhabi’s housing, transport and tourism sectors, offering lucrative opportunities for investors and construction companies. More than 252 projects, valued at AED160 billion, are focused on improving national housing and livability, Eid said – part of Abu Dhabi’s effort to enhance quality of life. Tourism initiatives account for another AED16 billion and include key developments in the Saadiyat Cultural District, home to institutions such as the Louvre Abu Dhabi and the upcoming Guggenheim Abu Dhabi, which will be 10 times the size of its New York counterpart. In transportation, 155 projects valued at AED25 billion aim to improve connectivity and accessibility, with a goal of doubling public transport usage by 2028. Eid said the focus on PPPs reflects Abu Dhabi’s strategy to accelerate timelines, improve efficiency, and introduce advanced technologies across its infrastructure program, while “sharing risks and rewards with partners.” “We are working together with the private sector to harness their expertise, creativity, and resources aligned with our public sector goals to strengthen communities, welfare, and deliver key projects for our people,” he added. Vegas-style Sphere will light up the skies of Abu Dhabi Abu Dhabi launches $953m housing project for citizens Saadiyat Island table talk – property and pallets The PPP model has already yielded results in Abu Dhabi. High-profile examples include the Zayed City Schools project, which delivered three schools under a 22-year PPP agreement, and the LED Street Lighting Project, the first of its kind in the Gulf, which retrofitted 176,000 streetlights to improve energy efficiency and road safety. According to the Abu Dhabi Investment Office, PPPs in the emirate have helped to optimise resources, saving AED1.4 billion in capital and operational costs, while creating nearly 5,000 construction jobs and 450 operational roles. The Abu Dhabi Investment Office has facilitated AED2.4 billion in PPP deals between 2020 and 2024, underscoring Abu Dhabi’s appeal to both local and international investors. Abu Dhabi’s focus on PPPs aligns with its long-term economic diversification plans. AGBI reported in October that the emirate is preparing to launch its 2045 economic strategy, which will target a fivefold increase in investments and a sevenfold rise in non-oil exports. Growth sectors include advanced manufacturing, hydrogen, energy storage, and financial services. The shift is already visible, as non-oil GDP grew 6.6 percent in the second quarter of 2024, according to the Statistics Centre – Abu Dhabi. The private sector is expected to play a crucial role in sustaining this momentum, sources said.
