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The recently established Dubai Executive Council signed off on a budget for public-private partnerships (PPP) in Dubai, as well as a new housing policy, when it convened for the first time yesterday, reports the Dubai Media Office. Among the decisions approved:
#1- The council approved a AED 40 bn budget for the Dubai Portfolio for Public-Private Partnership for 2024-2026. The portfolio — launched in 2021 — aims to boost private sector investment in the emirate’s development projects. It originally comprised 30 infrastructure, public transport, and urban development projects, valued at over AED 25 bn.
#2-The Council also greenlit the “Dubai Sandbox” project, which focuses on establishing a standardized governance and regulatory framework that will allow startups to rapidly try out new ideas. The initiative is expected to support 100 tech ventures in its initial phase, including in sectors like proptech, artificial intelligence, healthtech, and greentech.
Also getting council sign-off yesterday:
- An affordable housing policy offering a range of housing options to cater to individuals across different income levels, and facilitating the development of new accommodations for workers closer to their workplaces
- A new logo to be adopted across Dubai’s Government entities — which will still retain their individual logos for distinctiveness — within a six-month transition period.
