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Abu Dhabi to invest $163bn real estate projects

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 19 September 2007
(Getty Images)
(Getty Images)

The government of Abu Dhabi and private investors will invest about 600 billion dirhams ($163.4 billion) in real estate projects in the emirate by 2030, Abu Dhabi's Urban Planning Council said on Wednesday.

The population of Abu Dhabi, which holds almost all of the UAE's oil reserves, should almost triple by 2030 to 3 million people, from 930,000 now, Falah al-Ahbabi, the council's general manager, told a news conference.

The government would cover up to 40% of project costs with private sector investors taking care of rest, Ahbabi said.

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