April 17, 2024
1 min read

Masdar City unveils plans for Dh4 b projects targeting AI, space

Ahmed Baghoum stressed that Masdar City is currently focusing on vital sectors including energy…reports Asian Lite News

CEO of Masdar City, Ahmed Baghoum, has revealed that there are projects under the design phase with an investment cost ranging between AED3-4 billion that target critical sectors like energy, artificial intelligence, space, life sciences, and agriculture.

Bakhoum added, in statements to the Emirates News Agency (WAM) on the sidelines of the first day of the World Future Energy Summit, hosted by Abu Dhabi Future Energy Company (Masdar), that the total value of projects currently under construction at the City is estimated at around AED1 billion , including the Masdar City Complex and ‘The Link’, scheduled for completion in mid-2025.

He stressed that Masdar City is currently focusing on vital sectors including energy, AI, space, the life sciences and agriculture, noting that all of these areas are important for the emirate of Abu Dhabi in particular and the UAE in general, where “we are working to support and focus on them by attracting talent and partners.”

He noted that there are discussions with foreign companies to relocate and establish their research centres in Masdar City.

“Masdar City is a world-class business and technology hub, operating at the highest international standards. It offers companies a compelling package of advantages and incentives, including full foreign ownership, exemption from income tax, and unrestricted currency exchange,” he explained.

ALSO READ: World Bank raises UAE’s real GDP growth forecast

Previous Story

World Future Energy Summit begins with call for climate action

Next Story

Dubai SME expands role in driving SME growth

Latest from -Top News

China Says US Tariff Hikes Violate WTO Rules

China is among the hardest-hit, facing a 34 per cent levy—part of what Washington describes as reciprocal measures aimed at rebalancing trade deficits and curbing unfair trade practices China has strongly condemned

Modi Due in Sri Lanka to Cement Ties

Indian High Commissioner to Sri Lanka Santosh Jha described the visit to island nation as “very important” and likely will set a fresh agenda for bilateral cooperation Prime Minister Narendra Modi’s visit

India Acts as ‘First Responder’ in Myanmar: Jaishankar

Jaishankar took the opportunity to underscore India’s swift humanitarian response, highlighting Operation Brahma, which was launched to assist those affected by the earthquake. External Affairs Minister S. Jaishankar on Thursday expressed India’s
Go toTop

Don't Miss

‘Naatu, Naatu’ dance challenge by Indian Embassy

The Embassy of India in UAE, on Monday, started a

Hyundai Motor Company launches ‘Back to School’ campaign

Customers in the UAE, Kingdom of Saudi Arabia, Kuwait Bahrain