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According to the report, the
infrastructure projects in the UAE
have set a remarkable example for
the community. They provide growing
incentives and momentum to the
country’s endeavours to overcome the
multi-faceted challenges it is facing,
thus strengthening its position as a
premier investment destination at the
regional and global levels. The report
cited recent statistics purporting
that the UAE comes on top of MENA
countries with regards to the number
of infrastructure projects up to the
year 2020, with Abu Dhabi launching
infrastructure projects worth AED
4.3 billion out of AED 17.5 billon
allocated to capital-intensive projects
in the emirate. Dubai’s infrastructure
developments are valued at more than
AED 22 billion for the current year.
By 2020, Qatar is planning to spend
around QAR 30 billion on highways,
bridges, subways and power generation
station projects in addition to FIFA
World
Cup-related
infrastructure
projects worth $ 200 billion. Qatar’s
new budget indicated an increase to
around QAR 100 billion in government
spending on major projects in areas
of education, health and so on.
On Saudi Arabia’s infrastructure
projects, the report mentioned
that they are closely linked to the
government’s economic diversification
plans and strategies as part of the
Saudi Vision 2030. In this regard, the
report said that the resilience and
buoyancy of the Saudi economy and
the Kingdom’s massive financial
reserves coupled with the considerable
future credit flows are all significant
factors to ensure that KSA makes great
economic strides, provided feasible
investment plans are developed.
The report mentioned that infrastructure-
strengthening efforts are a primary
step for any development to materialise
in a way that should reflect positively
on all services available in a country.
The efforts are also paving the way to
develop investment-enticing legislations
and policies conducive to creating job
opportunities and grooming local cadres
as well as fostering a culture of innovation.
On Qatar, the report stated that the
infrastructure investment momentum is
almost on par with that of Dubai, as the
latter is gearing up to EXPO 2020, while
the former is getting ready for the 2022
FIFA World Cup. These are premier world
events that are considered main catalysts
for urban development, driving up
demand for infrastructure projects at
present and over the coming period.
Mazaya Monthly Real Estate Report -
Week 4 - December 2016