As part of the Dubai government’s public-private partnership policy, the emirate has approved a portfolio of projects worth Dh 40 billion. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, approved the portfolio during the first meeting of The Executive Council of Dubai since its reconstitution. The portfolio features a wide variety of projects aimed at enriching cooperation and inspiring new collaborations between the public and private sectors in the emirate.
Abdulrahman Saleh Al Saleh, Director-General of the Department of Finance (DoF), highlighted Dubai’s vision to become a global economic hub, enabling the identification of opportunities in active economic sectors and creating a Dh 40 billion portfolio of government projects under the PPP model. This strategic move is aimed at financing, implementing, and operating projects in collaboration with the private sector, reinforcing Dubai’s position as a global economic player. The DoF has laid solid foundations for building a comprehensive PPP ecosystem, emphasizing collaboration with government entities and private sector companies to maximize returns.
Over a three-year period, from 2024-2026, the new PPP projects portfolio will cover 10 fundamental economic sectors, contributing to enhancing economic growth and infrastructure development in Dubai. The focus is on consolidating the regulatory framework in the emirate through a comprehensive performance framework (CPF) program to ensure accurate management of the PPP ecosystem performance. The CPF program revolves around strategic objectives like compliance with PPP laws and policies, encouraging private sector participation, stimulating innovation in project financing, and promoting governance practices in the PPP ecosystem.
Muna Ahmad Abdulla, Director of the Capital Projects Division at the DoF, emphasized the growing importance of the PPP ecosystem in economic and infrastructure development. Partnership projects stimulate the economy, create job opportunities, improve infrastructure, and enhance services provided to citizens and residents. Private sector financing of infrastructure projects contributes to firming governance and activating the principles of transparency and accountability, ultimately leading to sustainable development and improved quality of life for individuals and communities.
In 2023, the DoF launched a digital platform called DP3 for managing projects within the PPP ecosystem, specializing in partnership projects implemented under the PPP framework. The platform covers all stages of the project lifecycle, from identification and evaluation to implementation and operations, catering to government entities subject to the law regulating partnerships between the public and private sectors in Dubai. The digitization of project management drives efficiency and transparency in the PPP ecosystem, ensuring effective collaboration between government entities and private sector partners.
In conclusion, Dubai’s approval of a Dh 40 billion portfolio of PPP projects showcases its commitment to fostering cooperation between the public and private sectors for economic development and infrastructure growth. Through solid foundations laid by the DoF, Dubai aims to become a global innovative destination for financing infrastructure projects and urban development. The PPP ecosystem plays a vital role in driving economic growth, job creation, and service improvement, with digitization further enhancing project management efficiency and transparency. By prioritizing collaboration and innovation, Dubai is poised to achieve sustainable development and enhance the overall quality of life for its residents and communities.
