H.H Sheikh Hamdan approves AED 40 billion public-private projects

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council has approved 40 billion dirhams worth of projects under the public-private partnership (PPP) model.

The portfolio was announced by the Department of Finance (DOF) of the Government of Dubai with the aim of inspiring new collaborations between the two sectors and continued economic development. 

The new projects will cover ten economic sectors over a three-year period from 2024 to 2026. 

Abdulrahman Saleh Al Saleh, DOF Director-General, said, “The ambitious vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, is for Dubai to become a strong, vibrant hub for global economic development and a platform for emerging sectors. This vision enabled DOF to identify the best opportunities in the most active economic sectors and to create a portfolio worth AED40 billion of government projects that can be financed, implemented and operated according to the PPP model.

“Launching an abundant, strong portfolio of projects is a fundamental pillar of the Government’s PPP strategy, and we are ready to benefit from the success achieved in the previous stages of developing the PPP ecosystem and continue to innovate in financing vital government projects,” he added.

The announcement came during the first meeting of The Executive Council of Dubai since its reconstitution. The various projects aim to enhance cooperation and inspire new collaborations between the public and private sectors in the emirate.