Dubai to spend $3bn on transport in 2010
Dubai is set to invest up to $3bn in transport projects in 2010 according to Dubai’s Roads and Transport Authority (RTA).
Speaking at a news conference last week, RTA chairman Mattar al Tayyer said: “Investing in infrastructure is the driving force for the economy. We have AED10.5bn budget for this year and we will spend more in the future”.
Tayyer later advised that this budget could rise to AED 10.7bn with the majority (46%) to be allocated to the Rail Agency.
The development of infrastructure has always been fundamental to the Dubai government’s plans to position Dubai as the commercial and tourism hub of the Middle East and it has continued to receive investment throughout the recent months of financial uncertainty. Last September saw the launch of Dubai Metro’s Red Line and the opening of the next phase – the Green Line – is scheduled for June this year.
This latest announcement is testament to the long-term ambitions of Dubai and positive news for the emirate’s residents and visitors set to benefit from improved accessibility and high quality transport systems.
Source: Arabian Business