ADPIC Unveils Projects Worth $18B Across Abu Dhabi

The Abu Dhabi Projects and Infrastructure Centre (ADPIC) has announced the launch of 144 projects worth AED66 billion ($17.97 billion) across the emirate, according to the Abu Dhabi Media Office.

Budget breakdown

• ADPIC said that the Abu Dhabi Executive Council gave the green light for the projects that will span various sectors, including housing and quality of life, education and human capital, tourism, and natural resources.
• AED59 billion ($16.06 billion) will be allocated to establish various housing and public facilities, including the comprehensive development of entire communities, integrating a range of amenities and services.
• AED4 billion ($1.09 billion) has been assigned for education and human capital.
• AED1.1 billion ($300 million) was allocated to boost tourism, and AED50 million ($13.6 billion) to enhance Abu Dhabi's natural resources.
• ADPIC stated that nearly 13,000 housing units will be developed in Abu Dhabi, Al Ain, and Al Dhafra. It also highlighted that the plan aims to enhance social bonds by extending developments into social spaces.

Key background

In September 2023, the Abu Dhabi Executive Council announced the establishment of the ADPIC for a range of tasks related to capital projects in the emirate. The council then stated that ADPIC would be under the jurisdiction of the Chairman of the Department of Municipalities and Transport.

ADPIC is tasked with several responsibilities, including reviewing capital projects proposed by government entities and submitting recommendations to the council. It also includes supervising projects’ implementation, overseeing quality standards and safety criteria, and coordinating with the relevant government entities to develop strategies for capital projects.

The UAE real estate market is on an upward trajectory. Key strategic initiatives, including the UAE Tourism Strategy 2031 and "We the UAE 2031," are expected to continue this positive boost to the sector, according to Asteco in its recent report.

Big number

Abu Dhabi real estate transactions amounted to over AED5 billion ($1.36 billion) in the first month of 2024, comprising 1,386 transactions of sales and mortgages on different types of units, according to the Emirates News Agency.

The UAE real estate sector is forecasted to register a compound annual growth rate (CAGR) of over 8% between 2022 and 2027, according to Mordor Intelligence.