Sheikh Hamdan approves major public projects in Dubai worth over Dhs11b

 Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, approved a plan to develop community services and facilities through 2040 with a budget of Dhs9.59 billion, and the extension of the Dubai Metro to Al Maktoum International Airport City with a budget of Dhs2 billion.

During a meeting held as part of the UAE Annual Government Meetings 2026, The Executive Council also approved the findings of a study on the future of Dubai’s real estate market and the investment policy relating to endowments and minors’ funds.

Sheikh Hamdan affirmed that, guided by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai continues to invest in future-ready infrastructure and integrated community services, turning the Dubai Plan 2033 that encompasses the Dubai Economic Agenda (D33) and the Dubai Social Agenda 33 into projects that keep pace with the emirate’s growth.

Sheikh Hamdan said, “The stability and prosperity of our community remain our priority. We approved a comprehensive plan to develop integrated public services and facilities that foster social cohesion. Our goal is for the people of Dubai to experience the benefits of the city’s growth in their everyday lives.”

On the Dubai Metro extension, Sheikh Hamdan said, “Al Maktoum International Airport City is one of our most significant strategic projects, reinforcing Dubai’s position as a global aviation hub. The extension is part of an integrated transport system that matches the ambitions of this global project. We continue to invest in infrastructure that anticipates future aspirations, connects the emirate and strengthens Dubai’s competitiveness.”

On the real estate sector, Sheikh Hamdan said, “Dubai’s real estate sector continues to demonstrate strong, resilient performance, bolstered by investor confidence and diverse range of investment opportunities. The findings of the new study will guide policy and development decisions made with the private sector, supporting the Dubai Real Estate Sector Strategy 2033 and further solidifying Dubai’s position as one of the world’s most competitive and sustainable real estate markets.”

Sheikh Hamdan stressed the importance of strengthening the management and investment of endowment assets and minors’ funds at The Endowment and Minors’ Trust Foundation in Dubai (Awqaf Dubai), to safeguard assets, optimise investment returns and ensure sustainable benefits.

Sheikh Hamdan said, “Dubai has established a pioneering model for endowment initiatives and the management of minors’ funds, with endowment assets reaching Dhs13.5 billion in 2025. We remain committed to advancing this model to safeguard and grow the assets while optimising their social impact. We have directed Awqaf Dubai to diversify the investment portfolio and strengthen private sector partnerships, securing sustainable returns for beneficiaries and the wider community.”

The meeting was attended by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Sheikh Ahmed Bin Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.

The community services plan aims to ensure the efficient and equitable distribution of public services and facilities across existing and planned residential communities, meeting the needs of Dubai’s citizens and residents as the city continues to develop.

The plan will be implemented under the supervision of the Supreme Committee for Urban Planning in Dubai, in coordination with Dubai Municipality, in line with the Dubai Social Agenda 33 and the Dubai 2040 Urban Master Plan.

It will be rolled out in phases, prioritising residential areas for citizens.

It includes essential facilities for safety, security, healthcare, education and sports, alongside amenities for senior Emiratis and spaces for family and community activities, improving access to services, meeting the needs of all generations and strengthening family bonds and social cohesion.

The Dubai Metro extension will give rise to a 3-kilometre route with two new stations, linking Route 2020 to Al Maktoum International Airport City.

The project involves a collaboration between Dubai’s Roads and Transport Authority (RTA) and the Dubai Engineering Projects Establishment. Services are scheduled to begin in 2031.

The extended route will connect to the West Terminal of Al Maktoum International Airport, linking with the airport express line and Etihad Rail’s high-speed rail network.

It will make travel easier for passengers, airport staff and visitors; improve traffic flow on surrounding roads, and ease access to urban centres across the emirate.

The study on the future of Dubai’s real estate market was conducted by the Dubai Land Department. It supports the Dubai Real Estate Sector Strategy 2033, which aims to double the sector’s contribution to Dubai’s GDP to Dhs73 billion, increase the volume of real estate transactions by 70% to bring the market’s total value to Dhs1 trillion, and double the value of real estate portfolios to Dhs20 billion.

The study shows that residential occupancy stands at 97%, with retail occupancy at 98% and office occupancy currently at 94%, respectively.

It projects the development of 365,000 new residential units and approximately 1.1 million square metres of office and retail space by 2030, providing developers insights to guide investment and development planning, enhance projects quality, accelerate delivery, and strengthen investor confidence.

The study also reflects Dubai’s data-driven approach to real estate market planning, using market indicators to inform policies, respond to evolving demand and maintain a balance between supply and demand.

This is supported by an adaptive regulatory framework, integrated digital services, and strong partnerships with developers and investors.

The investment policy presented by Awqaf Dubai aligns with the economic and social priorities of Dubai Plan 2033, with a focus on safeguarding and growing assets to ensure sustainable benefits for beneficiaries and future generations.

By 2030, the policy targets an increase of Dhs10 billion in the value of the real estate portfolio and over 35% growth in the securities portfolio.

The policy sets out a diversified investment approach aimed at optimising returns while managing risks and strengthening private sector participation, in accordance with Sharia principles.

Real estate investments will span residential, commercial, healthcare, industrial and educational developments, as well as exhibition and sports facilities, in alignment with the Dubai 2040 Urban Master Plan.

WAM