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

Mohammed Deif Killed, Hamas Confirms

Israel has accused Deif of being one of the masterminds of the Hamas attack on southern Israeli towns on October 7, 2023…reports Asian Lite News The Al-Qassam Brigades, the armed wing of

IBPC Celebrates R-Day in Dubai 

The Indian Business and Professional Council (IBPC) marked the 75th Republic Day with vision for India’s Future as a ‘Viksit Bharat’  The Indian Business and Professional Council (IBPC) hosted a dynamic Republic

PM Modi Mourns DC Plane Crash, Stands with US

A US passenger jet carrying 64 people crashed into the Potomac River after a midair collision with a US Army Black Hawk helicopter during a nighttime training exercise….reports Asian Lite News Prime

100% Tariffs? Trump’s Warning to BRICS

Friday’s warning is a repeat of the one that he made on November 30, weeks after winning the 2024 election…reports Asian Lite News Expressing his stance against de-dollarisation vehemently on Friday, Donald
Go toTop

Don't Miss

UAE lauded for hosting major sports events

Thomas Kurth, Secretary-General, UIM International Powerboating Union praised the UAE’s

Kerry Calls For Accountability, Strong Decisions at COP28

Kerry expressed concern about the lack of follow-through by some