Industry

The government of Abu Dhabi continues to invest in a series of large industrial developments as it endeavours to diversify the economy beyond hydrocarbons, a key aim of its Economic Vision 2030. In the coming five years, growth in the sector is likely to be driven primarily by expanded upstream activity. Aluminium is seen as a segment ripe for expansion, with a number of new companies setting up shop in the emirate and a unique “hot metal road” being built as an efficient aluminium transit system. The petrochemicals sector is also seeing massive expansion, though uncertainties in the global economic climate could temper its growth in the long term. In retail, 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 volumes. And while concepts that work well in other parts of the world – such as e-commerce – are not necessarily guaranteed a strong future in Abu Dhabi, the fact that so many developers and retailers are pouring into the emirate is a strong indication of its growth potential. This chapter includes interviews with talks to Mohammed H Al Qemzi, CEO, ZonesCorp; Suhail Al Ameri, CEO, General Holding Corporation (SENAAT); and Khaled Salmeen, Executive Vice-President, Abu Dhabi Ports Company.