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Private investors to put in close to $163 billion in real estate projects in the UAE capital city by 2030, according to a government projection last year |
Driven by the excellent prospects in Non-oil sectors, especially real estate, Abu Dhabi's economy is expected to jump to $179.1 billion by 2010, more than double its level in 2005.
The economy of the UAE capital city, the world's fifth largest oil exporter, should expand 54.4 percent in real terms over the five-year period, and could almost double again between 2010 to 2020, the Abu Dhabi Department of Planning and Economy said.
Abu Dhabi is no longer relying on oil exports as they are funneling money into real estate and heavy industry. The state and private investors are set to invest about $163 billion in real estate projects in the UAE capital city by 2030, according to a government projection last year.
