The government is investing in a series of large industrial developments as it endeavours to diversify the economy beyond hydrocarbons, a key aim of its Economic Vision 2030, a master development strategy that is to reshape the emirate’s economy over the next two decades. In the coming five years, growth in the sector is likely to be driven...
What industries are being targeted for the Kizad industrial zone project in order to align it with the objectives of Economic Vision 2030?
As developers rush to cash in on Abu Dhabi’s retail market, which they deem to be relatively untapped and undersupplied, total retail space is expanding at one of the fastest rates in the region. International brands are looming larger, especially at the top end of the market, where expensive cars and other luxury goods are being sold at record...
With oil prices at sustained high levels and the government pushing ahead with a large-scale investment programme to upgrade infrastructure, address social issues and further diversification, Saudi Arabia’s economy is thriving.
While hydrocarbons continue to make up the lion’s share of the emirate’s GDP, oil revenues are supporting long-term efforts to diversify the economy. Oil and gas accounts for about 52% of real GDP, down on previous years, followed by construction, manufacturing and real estate. High-quality transport infrastructure, meanwhile, is boosting trade activity and free zones in Abu Dhabi.
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