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Abu Dhabi

By ilbambinodue Nov 13, 2008 624 Words
Abu Dhabi’s economic expansion is an ambitious plan focused on broadening the base of the economy by focusing on areas such as legislative and regulatory frameworks, Private sector development, Expansion of Basic Industries, (both oil and non oil related), Real Estate Development, and Tourism. Abu Dhabi is creating a diverse economy of great depth, that will be better able to withstand external shock, and provide a stable platform for further growth and expansion.

Plan Abu Dhabi 2030, an urban master plan, is a very ambitious long term government objective that goes well beyond urban planning. It is said to be “the UAE’s answer to the Champs-Elysees and Arc De Triomphe in Paris, or London’s Marble arch and Buckingham palace.”(25) Enormous growth is expected over the next 22 years, “between tripling and quadrupling of the current population”. The 2030 plan aims to provide the necessary infrastructure to elevate the economic development that comes with a population growth of that proportion. The economic projections established the by government of Abu Dhabi designated the following areas as priorities in its 2030 plan. •Residential: the Demand for residential real estate will grow with the population. •Office: Expected growth in Government, Intuition, and service sectors, will increase the demand for office space. •Retail: increasing population and tourism will increase demand for retail space. •Industrial: the industrial sector zone will grow with the expansion and relocation of the port, combined with the development of an industrial zone. •Hotel: increased room supply will be essential to accommodate the anticipated growth in both business and leisure guest. •Golf: Golf serves to increase the value and desirability residential and resort real estate, as well increase golf related tourism. •Marina: Demand for marina berths is expected to rise as a result of developments on the islands around Abu Dhabi. •Education: The primary goal is to create the highest quality comprehensive system of education at world class standards. •Hospital and Healthcare: Making significant improvements by expanding capacity and increasing the standards across the sector. This includes new institutions and the further development of existing facilities. (26)

We can insert fig 3.2 if it does not take up to much space. (Length may become an issue)

Through Mubadala Development, a company wholly owned by the government of Abu Dhabi, many new companies were formed or acquired for the purpose of sustaining economic growth. “at the core of its strategy, Mumbala invests in strong companies to deliver strong financial returns as well as opportunities that can provide other sustainable benefits for Abu Dhabi” (27) the company invests in a wide range of sectors, including energy, utilities, real-estate, public-private partnerships, and basic industries and services.(28)

Areas prioritized for growth, based on financial return as well as economic development.

Capital Intensives Investments: Investments that provide new opportunities for partnerships with existing firms to expand the UAE’s areas of core competency.(29) •Aerospace and Technology: Implementing research and development initiatives, as well as establishing training and education facilities to cultivate the human capital needed to build an aerospace industry.(30) •Healthcare: a division of the company is “dedicated to investment in strategic, high value and economically sustainable projects that meaningfully enhance the private healthcare infrastructure of Abu Dhabi, and the UAE as a whole”(31) •Infrastructure: “Developing sectors that will establish a well organized and flourishing society in education, health, transportation, and other important amenities” (32) •Real Estate and Hospitality: necessary to support the growing population of nationals as well as the expatriate workforce. •Service sector evolution: “Enhance Abu Dhabi’s position as a logistics and transportation hub and build centers of competencies in areas such as financial services, fleet management and maintenance repair and overhaul (MRO).”(33)

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