The UAE government approves Dh40b projects and affordable housing policies in Dubai
On Sunday, the Dubai Portfolio for Public-Private Partnership (PPP) (2024-2026) projects allocated a budget of Dh40 billion, which was approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Chairman of the Executive Council and Crown Prince of Dubai.
Alongside this allocation, Sheikh Hamdan also endorsed the affordable housing policy in Dubai and the initiation of the Sandbox Dubai project. The Sandbox Dubai initiative is designed to support more than 100 promising and innovative projects during its initial phase.
These decisions were made during the inaugural meeting of the council under its newly structured framework. Reflecting on the significance of this gathering, Sheikh Hamdan expressed his vision for this session as a fresh start in leading governmental operations and ushering in a new era to strengthen Dubai's global standing.
In the current meeting, we approved projects worth Dh40 billion as components of the 'Dubai Portfolio for Public-Private Partnership (PPP) (2024-2026). ' Additionally, we endorsed the affordable housing policy in Dubai and the Sandbox Dubai project, which is set to support more than 100 promising and innovative initiatives in its initial stage," stated Sheikh Hamdan.
The approval of the Dh40 billion budget signifies the government's commitment to fostering collaboration between the public and private sectors to drive forward key developmental projects in Dubai. Simultaneously, the implementation of the affordable housing policy underscores the leadership's dedication to addressing the housing needs of residents, ensuring accessibility and affordability for all segments of society.
Furthermore, the Sandbox Dubai project serves as a testament to Dubai's commitment to innovation and fostering a conducive environment for entrepreneurial endeavors. By supporting over 100 innovative initiatives, the initiative aims to spur economic growth and position Dubai as a hub for groundbreaking ideas and ventures.
These decisions underscore Dubai's unwavering commitment to progress, innovation, and inclusive development, positioning the city as a global leader in various sectors.
