Abu Dhabi expects to see $49bn being spent investing in new projects in 2013.
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Abu Dhabi is slated to witness $49bn worth of new projects being awarded in 2013, along with $9.80bn worth of project being awarded in Al Ain, as part of its build up for its 2030 development strategy.
According to a report by MEED, the current year has seen the UAE capital invest heavily in the project markets, with more than $81.67bn worth of projects currently underway. The bulk of this comes from a $32.6bn in the oil and gas sectors.
A further $26.6bn is being spent on real estate and construction projects, the report said.
Abu Dhabi’s transport sector is expected to surge over the next year with ongoing projects worth $13bn. Healthcare is worth $4.08bn worth of projects, manufacturing and industrial sectors are equally healthy with projects amounting to $5.9bn. The power and water sector of the UAE capital is worth $1.36bn the report said.