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BOOST TO ECONOMY SEEN

$75bn projects coming up in Abu Dhabi

Abu Dhabi, November 18, 2012

Abu Dhabi will see projects worth over Dh276 billion ($75 billion) coming up across several key sectors including infrastructure, transport, heavy manufacturing, energy, power and water and real estate sectors next year, said a expert.

This, in turn, will help boost the UAE capital’s economy in 2013, said Edmund O’ Sullivan, the chairman of Meed Events, the organisers of 'Abu Dhabi Conference 2012' which opens tomorrow (November 19), at the Sofitel Hotel in Abu Dhabi.

As per official estimates, the GDP will reach 3.9 per cent and then gradually rise to 6.5 per cent in 2016 as private sector investments continue to grow after fulfilling the infrastructure in freezones and other areas in the emirate. 

Now in its 7th year, the top-level conference will once again gather key representatives from various sectors of the Abu Dhabi economy, including its most influential leaders, and the international community to discuss the latest developments, milestones and upcoming investment and project opportunities across the emirate’s major industries leading up to Abu Dhabi Vision 2030.

A comprehensive review of projects currently in the pipeline as well as announcements on new projects will be presented at the upcoming event, which is being supported by the Abu Dhabi Department of Economic Development.

The highlight of the event is keynote address from Abu Dhabi Conference 2012 Leadership award winner Abdulla Saif Al Nuaimi, the director general, Abu Dhabi Water & Electricity Authority and detailed presentations including Abu Dhabi municipality’s project opportunities in Khalifa City, Mohammed bin Zayed City, and the Capital District, Abu Dhabi General Services Company’s infrastructure project updates and Tourism Development & Investment Company’s Saadiyaat’s development progress.

Sustainability continues to be a priority concern for the UAE capital and the creation of complete sustainable communities across Abu Dhabi will be discussed by the urban planning council, including and how the four sustainability pillars of Estidama will play a role in driving upcoming projects.

The other organisations who will be sharing sustainability initiatives include Environment Agency Abu Dhabi, Family Development Foundation, Department of Municipal Affairs, Abu Dhabi Education Council and Abu Dhabi Future Energy Company, said Edmund O’ Sullivan.

“Over the years, this event has become a key platform for projects industry stakeholders to get a comprehensive understanding of the infrastructure and commercial developments in the capital, thus equipping them with crucial information about opportunities that will hopefully lead to new business or increase their share of the still growing Abu Dhabi projects market,” he stated.

“This year, we are presenting a comprehensive overview of the entire projects sector – cutting across Abu Dhabi’s major industries – to help them identify the hottest growth areas,” he added.

Mohammed Omar Abdulla, the undersecretary, Abu Dhabi Department of Economic Development (Added) will provide the keynote address, highlighting the emirate’s most recent economic achievements and developments.

“Abu Dhabi has made tremendous strides in developing its economy in recent years, fueled by strategic developments in key industries for a truly encompassing and sustainable growth. The development of the projects industry is a major component of our long-term economic vision and as such we are giving it the due importance it deserves by dissecting the opportunities in the annual Abu Dhabi Conference,” Abdulla added.

The presentations and discussions will also cover other mega projects in Abu Dhabi, including Stage 2 & 3 of the Etihad Rail development programme as well as an update on Abu Dhabi Airport Company’s midfield airport expansion project, highlighting contractor opportunities for the construction phases of the 700,000 sq m Midfield Terminal Building, planned for opening in 2017.-TradeArabia News Service




Tags: abu dhabi | Infrastructure | Projects |

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