Sheikh Mohammed gives green light AED5.5 bn uplift projects for citizens

Sheikh Mohammed gives green light AED5.5 bn uplift projects for citizens

17 January 2024, Middle East Economy

3,500 plots of land allocated to Dubai citizens in approved projects

Dubai is poised to embark on a series of projects valued at AED5.5 billion ($1.49 billion) following approval from the emirate’s Vice President. Dubai’s Ruler, Sheikh Mohammed bin Rashid Al Maktoum, has given the green light for the projects scheduled for 2024 under the Dubai Social Agenda 33, as reported by Emirates News Agency, also known as WAM.

This action showcases Al Maktoum’s dedication to providing essential support to citizens in order to ensure the welfare and well-being of their families.

“Family is the cornerstone of the nation and the foundation of all development,” Al-Maktoum stated.

“Our ultimate goal is to enhance the quality of citizens’ lives for a brighter future,” he added.

The approved projects encompass the allocation of 3,500 plots of land to be distributed among Dubai’s citizens, as well as 2,300 ready-to-move-in houses throughout the emirate.

Furthermore, the Dubai Ruler has issued directives to name the newly designated area for the citizen housing project as Latifa City.

Additionally, the Prime Minister has reaffirmed the emirate’s commitment to launching further projects that fulfill the aspirations of Dubai’s citizens.

32 trillion-dirham economic plan

In January, Dubai unveiled a 32 trillion-dirham economic plan aimed at boosting trade and investments over the next decade.

Also known as D33, the new agenda comprises up to 100 transformative projects in Dubai, as the government seeks to position the emirate among the top three economic cities globally.

“We have over 300,000 investors in Dubai, and I invite everyone to join our journey to become one of the fastest-growing cities in the world,” Al Maktoum tweeted at the time.

Under the plan, foreign trade is targeted to reach AED25.6 trillion in the next 10 years, compared to AED14.2 trillion in the previous decade.

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