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...
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