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Dubai Approves Dh40 Billion Worth of Projects Under PPP Model

Dubai Approves Dh40 Billion Worth of Projects Under PPP Model

Dubai, UAE – Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has given the green light to a comprehensive portfolio of projects worth Dh40 billion under the Dubai government’s public-private partnership (PPP) policy. The announcement came during the first meeting of The Executive Council of Dubai since its reconstitution.

The newly approved portfolio, covering a diverse range of projects, aims to foster collaboration and spur innovation between the public and private sectors in Dubai.

Abdulrahman Saleh Al Saleh, Director-General of the Department of Finance (DoF), emphasized the ambitious vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to position Dubai as a global economic powerhouse. Al Saleh highlighted the role of the DoF in identifying opportunities across key economic sectors, resulting in the creation of the Dh40 billion portfolio of government projects. These projects are envisioned to be financed, implemented, and operated using the PPP model, aligning with Dubai’s strategic objectives.

Over the next three years (2024-2026), the PPP projects portfolio will span ten essential economic sectors, contributing significantly to economic growth and infrastructure development in Dubai, according to Arif Abdulrahman Ahli, Executive Director of the Planning and General Budget Sector at DoF. Ahli underscored the importance of the PPP strategy in consolidating the regulatory framework and introduced the Comprehensive Performance Framework (CPF) program to manage the PPP ecosystem’s performance effectively.

The CPF program aims to ensure compliance with PPP laws, policies, and guidelines, encourage government entities to adopt the PPP model, stimulate private sector participation, promote innovation in project financing and development, and advocate for environmental, social, and governance practices.

Muna Ahmad Abdulla, Director of the Capital Projects Division at DoF, emphasized the significance of PPP projects in economic and infrastructure development. Abdulla highlighted how these projects stimulate the economy, create job opportunities, improve infrastructure, enhance service delivery, and uphold governance principles.

In 2023, the DoF launched the DP3 digital platform, a pioneering initiative designed to manage PPP projects across all stages, from identification to implementation and operations. The platform signifies Dubai’s commitment to digitization and innovation in project management within the PPP ecosystem.

The approval of the Dh40 billion PPP projects portfolio underscores Dubai’s dedication to fostering public-private partnerships, driving economic growth, and advancing infrastructure development in the emirate.

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