Abu Dhabi to pump $200bn into city's development

Abu Dhabi is to invest $200 billion in developing the city's infrastructure over the next five years, an official said on Wednesday as the government's ambitious Plan Abu Dhabi 2030 urban development strategy got underway.

Falah Mohammed Al Ahbabi, director general of urban planning at the Executive Affairs Authority, said the government's share will constitute 40% of the total spending, with the remaining share coming from the private sector, reported state news agency Wam.

The figure is $37 billion more than the $163 billion originally earmarked for the project up to 2030. It was not clear from the report whether the $200 billion was for the entire project, or just the first five years of development.

Launched in September last year, Plan Abu Dhabi 2030 is a framework for development of the UAE capital that will guide planning decisions for the next quarter of a century, aimed at transforming it into one of the world's premier cities.

The plan specifies land uses, building heights and transportation plans for city, with the goal of creating a sustainable urban environment.

Under the plan, the city is projected to grow from 930,000 to over three million people by 2030.