Abu Dhabi Projects Nearing $500b Mark

Dubai: The total value of declared projects in Abu Dhabi is inching towards the $500 billion mark (Dh1.83 trillion), according to the Middle East Economic Digest (Meed). Contributing to the $500 billion portfolio are large-scale real estate projects such as Al Raha Beach (Dh58 billion), Al Reem Island (Dh35 billion), Das Islands (Dh43 billion) and the Dh100 billion Saadiyat Island development. Abu Dhabi's economic growth as a whole can also be credited to the government's determination to diversify the economy away from its reliance on oil and gas: non-oil and gas GDP has risen by 87 per cent to $43.3 billion over the past five years. Meed's Abu Dhabi 2008 conference supported by the Abu Dhabi Department of Planning and Economy and supported by the Abu Dhabi Chamber of Commerce and Industry will address key challenges faced by the economy.

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