Abu Dhabi taps into non-oil sectors for growth
Abu Dhabi, May 19, 2013
Abu Dhabi's western region Al Gharbia is tapping into non-oil sectors for sustainable growth and aims to generate 25 per cent of the emirate's power needs through the nuclear power reactors in Barakah by 2020.
This is in addition to producing 7 per cent of Al Gharbia’s electricity needs from renewable sources (solar and wind), said a statement from The Western Region Development Council (WRDC), the central co-ordinating body leading development and promoting opportunity in Al Gharbia.
The council has defined a number of key non-oil sectors to drive economic growth and development in the region.
Today, the council strives to support and help develop different sectors such as the tourism sector, which is projected to account for 5.2 per cent of Al Gharbia’s gross domestic product, compared to only 1.3 per cent in 2010.
The WRDC said the residential projects are a priority area for investment in Al Gharbia due to the noticeable rise in demand for residential units that has reached 15,000 units.
Moreover, it is anticipated that the demand for commercial and retail spaces will also be on the rise and is estimated to reach 140,000 sq m.
“At WRDC we endeavour to provide guidance and support to potential investors, developers and visitors to the region that are interested in unveiling unique investment opportunities,” said Mohamed Hamad Bin Azzan Al Mazrouei, the acting undersecretary of the Ruler’s Representative Court in the Western Region and the director general of the WRDC.
The council also strives to support the oil and gas sector while working simultaneously on diversifying the economic activities in the region, he added.
Al Gharbia’s development has been plotted in a strategic framework that will be comprehensively discussed at the Al Gharbia Development Forum to be held at the Ritz Carlton Abu Dhabi, Grand Canal on May 27.
A number of senior officials led by Mohammed Omar Abdulla, undersecretary of the Abu Dhabi Department of Economic Development; Falah Mohamed Al Ahbabi, GM of Abu Dhabi Urban Planning Council; Rashid Mohamed Al Shariqi, director general, Abu Dhabi Food Control Authority (ADFCA); Dr Saif Saleh Al Sayari, executive officer, the head of Energy Solutions Division, Taqa; Ali Al Hammadi, the deputy managing director, Tourism Development & Investment Company (TDIC); and Mohamed Ebrahim Al Hosani, regional development director, WRDC, will be taking part.
The forum will include open discussions on opportunities available in Al Gharbia’s transport sector in addition to development of various projects set to take place in next five years; as well as sessions on opportunities for diversifying the region’s agricultural sector and other large scale projects.
“The investment and development opportunities offered by Al Gharbia are unprecedented and are critical to the future development of Abu Dhabi in particular and the UAE in general," said Edmund O’Sullivan, the chairman, MEED Events, organizers of the forum in cooperation with WRDC.
"The potential for growth is still largely untapped and those who want to get insider insights on where the opportunities lie should not miss this gathering,” he added.-TradeArabia News Service