Dubai: Approval given for multi-million dollar residential road investment
- United Arab Emirates: Sunday, October 21 - 2012 at 10:33
- PRESS RELEASE
Preparations are under way to roll out the next phase of Dubai's major transport infrastructure initiative which will focus on building roads for key residential areas, according to the Chairman and Executive Director of the emirate's Roads and Transport Authority (RTA) Mattar Al Tayer.
"While RTA's future plans still include major additions to Dubai's road network in terms of adding new creek crossings and developing major interchanges and road corridors, our priority is to provide roads within main residential areas," he said. "For this purpose, we have received government approval of Dhs1bn ($272.2m) to develop roads in 16 residential areas in the coming five years."
The interview with Al Tayer will appear in The Report: Dubai 2013, OBG's forthcoming guide on the emirate's economic activity and investment opportunities. The Group's report will include a detailed, sector-by-sector guide for foreign investors, together with a wide range of interviews with the most prominent political, economic and business leaders.
Al Tayer said the RTA's drive to encourage greater use of public transport was gathering pace, with several projects in the pipeline that would expand the network and increase capacity. In particular, he highlighted the Authority's plans to extend Dubai's metro lines and bring the Al Sofouh tram project to fruition.
"The RTA strategic plan has a clear objective, which is to increase public transport share from 6% in 2006 to 20% in 2020 and 30% in 2030. So far, we have managed to achieve a 11% share in 2011," he said. "We are working on a number of initiatives regarding the optimisation of the public transport system and attracting more people to use it, including new services, incentives to users, better integration between modes and other policies."
The Report: Dubai 2013 will provide information on opportunities for foreign direct investment into Dubai's economy and will act as a guide to the many facets of the emirate including its macroeconomics, infrastructure, banking and sectoral developments. The Report: Dubai 2013 will be available in print form or online.
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