Abu Dhabi to invest $200bn in infrastructure projects by 2030

Utilising the windfall from a five-fold increase in oil prices, the UAE's capital has posted an impressive growth in non-oil sectors, with the manufacturing sector accounting for 11% of the GDP in 2008, while the real estate and construction sectors accounted for 4 and 9%, respectively.

These figures reflect the serious efforts being made by the emirate to achieve diverse economy, in a bid to reduce reliance on oil revenue.

Dr Abdulraman Al-Tassan, CEO of RAKAA Properties, said:

"Abu Dhabi will be focusing on developing infrastructure projects to cater to the needs of its growing population. The emirate is planning to spend upwards of $200bn on infrastructure projects, as part of Plan Abu Dhabi 2030, amidst forecasts of 40% population growth over the next five years, to 1.3 million. This projected increase will result in need for an additional 700,000 residential units over the coming two decades, to cater to a population that may reach 3.5 million by 2030. Currently, there are an estimated 180-200,000 residential units in the market."

Al Tassan, whose company is developing three smart home technology-equipped towers on Al Reem Island, continued, "Abu Dhabi is leading the way in looking for alternative energy sources and developing its industrial sector. The emirate has played host to the latest technological trends, such as the recently unveiled "The Reem B Robot", one of the most advanced robots in the world, which has the ability to recognise face, voice and objects, and to map and navigate its environment."

The manufacturing sector, which accounted for 11% of Abu Dhabi's total GDP in 2008, is projected to continue to grow as mega projects in heavy and light industries, foodstuff industries and other non-oil manufacturing industries are launched in the emirate.

The industrial boom, coupled with tremendous investment opportunities, will reduce reliance on oil revenue by 10% over 15 years.