Abu Dhabi Projects and Infrastructure Centre Invests $4.4 Billion in City Development
The Abu Dhabi Projects and Infrastructure Centre (ADPIC) has made an investment of AED 16 billion ($4.4 billion) to enhance the city’s infrastructure and quality of life.
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The Abu Dhabi Projects and Infrastructure Centre (ADPIC) has highlighted its ambitious $4.4 billion initiative to enhance the quality of life and infrastructure across the UAE capital.
This initiative has seen the completion of 80 projects, with 71 finalized in 2023 alone. These projects aim to elevate the living standards across the emirate by providing essential amenities and modern infrastructure.
Among the noteworthy accomplishments of ADPIC are the creation of over 9,000 housing units for citizens and the execution of 27 projects designed to improve the quality of life, including parks, schools, and community centers. Major infrastructure projects completed include the Zayed Port Tunnel, the road network and junction at Zayed International Airport, and the Umm Yifeenah Bridge.
The Centre has also focused on enhancing transportation, completing 18 road and transportation projects to improve traffic flow. Additionally, 23 parks and playgrounds have been developed in Khalifa City, along with the establishment of the Khalifa City Al Tawajud Al Baladi Centre.
Mohamed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport – Abu Dhabi (DMT), stated: “In the heart of every infrastructure project lies a promise, a promise to enhance lives, empower communities, and pave the way for a brighter future.
“With each project, we ensure that Abu Dhabi continues to be an emirate that thrives on innovation, connectivity, and inclusivity, enriching the lives of all who call it home.”
Eng Maysarah Mahmoud Eid, Acting Director-General of ADPIC, said: “We are deeply committed to the pursuit of excellence through steadfastly driving forward the transformation of Abu Dhabi’s infrastructure to enrich the lives of its residents.
“By utilising pioneering strategies and initiatives, we aim to expand upon our legacy of achievement by fostering sustainable development, prosperity, and a lasting positive impact for generations to come.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
