Masdar City, Abu Dhabi’s sustainability-focused urban community, is working on projects in critical sectors of the UAE, backed by investments of between AED3 and AED4 billion ($817 million and $1 billion).
The projects include energy, artificial intelligence (AI), space, life sciences and agriculture, the UAE state-run Wam news agency reported, quoting CEO Ahmed Baghoum.
He said the projects are in the design phase, adding that Masdar City is working to support and focus on these vital sectors by attracting global talent and forging partnerships.
The total value of projects under construction in the city, located near the capital Abu Dhabi, is estimated at AED1 billion, including the Masdar City Complex and The Link, scheduled for completion in mid-2025.
Local contractor Dutco Construction in February started work on The Link, a 30,000 sq m sustainable community that includes the region’s first net-zero energy shared living and working facility.
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As part of its effort to attract more companies, Masdar City is in discussions with foreign companies to facilitate the relocation and establishment of their research centres.
The city offers incentives, including full foreign ownership, exemption from income tax and unrestricted currency exchange, Baghoum said.