Dubai launches new logo as Sheikh Hamdan approves AED40bn policy to boost affordable housing

Sheikh-Hamdan-bin-Mohammed-bin-Rashid-Al-Maktoum

Dubai launches new logo as Sheikh Hamdan approves AED40bn policy to boost affordable housing.

The meeting of the recently re-constituted Executive Council of Dubai also allocated AED40 billion for the ‘Dubai Portfolio for Public-Private Partnership’ for 2024-2026

The Dubai government launched its new logo, which symbolises the emirate’s visionary leadership, transformative development journey, and evolution into a city of the future.

The meeting of the recently re-constituted Executive Council of Dubai on Sunday, which was presided over by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, also decided on allocation of AED40 billion for the ‘Dubai Portfolio for Public-Private Partnership’ for 2024-2026.

The Crown Prince also approved the emirate’s ‘Affordable Housing Policy’ and the ‘Dubai Sandbox’ project, designed to support 100 tech ventures in its initial phase.

“We have revitalised Dubai’s iconic old emblem and adopted it as the new logo for the Government of Dubai,” the Crown Price said.

The Crown Prince also praised the efforts of the former Council members in bolstering Dubai’s position on the global stage and extended a warm welcome to the new members.

He said the reconstituted Executive Council of Dubai marks the start of a new strategic phase to enhance the government’s operational framework and consolidate Dubai’s stature.

“The newly formed Executive Council of Dubai will act as the driving force and catalyst for constructive change for Dubai. It will play a pivotal role in ensuring sustainable development, enhancing people’s wellbeing, and strengthening Dubai’s global standing,” he said.

The General Secretariat of the Executive Council of Dubai said that government entities will be granted a six-month transition period to implement the new logo.

AED40 billion to boost development projects

During the meeting, the Executive Council of Dubai approved AED40 billion for the ‘Dubai Portfolio for Public-Private Partnership’.

Overseen by the Department of Finance through the Dubai Digital Platforms, the portfolio aligns with the objectives outlined in the Dubai Economic Agenda, D33, including increasing government spending to AED700 billion, elevating private sector investment in development projects to AED1 trillion, and raising foreign direct investment to AED650 billion by 2033.

Since its launch in 2021, the portfolio has seen growth in both its value and the number of public-private partnership projects.

Originally comprising 30 projects in sectors such as infrastructure, public transport, and urban development, valued at over AED25 billion, it underscores the crucial role of private companies as strategic partners in the emirate’s development.

Affordable Housing Policy

The ‘Affordable Housing Policy’, approved by the Council, aligned with the goals of the emirate’s 2040 Urban Master Plan, aims to foster vibrant and healthy communities by providing diverse job opportunities and addressing housing needs.

This policy will cater to various segments of society, offering a range of housing options suitable for individuals across different income levels.

Additionally, it will facilitate the development of new accommodations for workers closer to their workplaces, enhancing the quality of these facilities and ensuring the provision of adequate services for all segments of society.

Multiple entities, including Dubai Municipality, the Roads and Transport Authority (RTA), Dubai Land Department (DLD), and Dubai Electricity and Water Authority (DEWA), are involved in implementing the policy.

Dubai Sandbox project

The ‘Dubai Sandbox’ project has been approved to support the testing and regulation of cutting-edge technologies in the emirate.

It enables tech projects and assists government entities in implementing legislation to keep pace with technological advancements.

Comprising four main pillars – economic impact, strategic impact, innovation, and applicability – the project aims to empower companies and enhance the emirate’s business environment.

In collaboration with the city’s Department of Economy and Tourism and the Dubai Future Foundation, the project focuses on establishing a standardised governance and regulatory framework for innovation.

The project is aimed at accelerating the growth of start-ups based in Dubai, particularly in technology and emerging sectors, fostering an entrepreneurial culture and facilitating access to funding.

Additionally, it seeks to have an international impact by integrating with the global innovation ecosystem.

The project also aligns with the D33 agenda’s goal of establishing the city as a leading hub for innovation. This includes areas such as artificial intelligence, real estate technology, health tech, and green technologies geared toward addressing climate change.

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