Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed have discussed various facets of the UAE’s development journey and economic initiatives that form part of the ‘Projects of the 50’, reports Asian Lite Newsdesk

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Monday met with Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, at Al Marmoom in Dubai.

During the meeting, both leaders discussed Expo 2020 Dubai’s success in bringing together nations and institutions from across the world to share innovative ideas and solutions to address key challenges facing the global community and providing a platform for showcasing economic opportunities and diverse cultures from across the world.

The two leaders also discussed the UAE’s ability to achieve high rankings in various global indices despite the worldwide repercussions of the pandemic over the last two years.

UAE leaders discuss plans for next 50 (HH Sheikh Mohammed twitter)

Furthermore, they have discussed various facets of the UAE’s development journey and economic initiatives that form part of the ‘Projects of the 50’. They also discussed the preparations for the next 50-year phase of the nation’s growth.

In addition, they reviewed the progress of the UAE’s strategic development plans and mega projects aimed at enhancing growth and social welfare, as well as the government’s efforts to provide the highest quality of life to both citizens and residents.

The meeting was attended by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council, Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, and Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Advisor for Special Affairs at the Ministry of Presidential Affairs.

Recenlty, Sheikh Mohammed had approved a new housing package worth AED 6.3 billion for UAE citizens in Dubai.

This includes housing and land allotments for 4,610 Emiratis in the city, on the occasion of Eid al-Fitr and as part of the Housing Programme for Dubai Citizens, which aims to continue intensive efforts to carry out the development and urban strategy of the Emirate of Dubai, and to become the best city for work and life in the world.

He also approved the development of a new housing complex in Al Khawaneej area 2, which will include 1,100 residential villas.

The housing plan includes  3,500 plots in Umm Nahad 4 and Al Aweer.

In 2021, Sheikh Mohammed approved the allocation of AED65 billion to an Emirati housing programme in Dubai. The budget will be spent over the next two decades to provide quality housing for Emiratis.

He also issued directives to quadruple the number of citizens benefiting from the housing programme effective from next year, and to increase the land plots allocated to Emirati housing projects in Dubai to 1.7 billion square feet, which will meet the demand from citizens over the next 20 years.

ALSO READ: Dh6.3 bn residential package for Dubai citizens

The Dubai 2040 Urban Master Plan sets out a comprehensive future map for sustainable urban development in the city. Aligned with the UAE’s vision for the next 50 years, the Plan is focused on enhancing people’s happiness and quality of life. The people-centric Plan focuses on reinforcing Dubai’s competitiveness as a global destination by providing a wide diversity of lifestyle and investment opportunities for citizens, residents and visitors over the next 20 years. Designed to realise His Highness’s vision to make Dubai the city with the world’s best quality of life, the Plan aims to provide the highest standards of urban infrastructure and facilities.

Meanwhile, the Foreign Direct Investment (FDI) inflows into the UAE recorded a 3.9 percent growth in 2021 compared to 2020 to reach nearly AED 76 billion (US$20.7 billion).

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade said that the growth achieved by the country in attracting FDI reflects the confidence of the international community in its investment environment.

He noted that it confirms the efficiency of the trade and investment openness policies pursued by the country, as the UAE now enjoys more opportunities to attract investments. This is especially true in light of its new legislation and the launch of the Projects of the 50, which are set to have a tangible impact in the long run on the flow and quality of foreign and domestic investments and the UAE’s overall economic growth.

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