Masdar City has projects valued at up to $1.1bn in the design phase as it looks to expand in AI, space, agriculture and energy sectors.
CEO of Masdar City, Ahmed Baghoum, has revealed that there are projects under the design phase with an investment cost ranging between AED3bn ($817m) and AED4bn ($1.1bn) that target critical sectors like energy, artificial intelligence, space, life sciences, and agriculture.
Bakhoum was speaking on the sidelines of the first day of the World Future Energy Summit, hosted by Abu Dhabi Future Energy Company, and said that the total value of projects currently under construction at the City is estimated at around AED1bn ($272.3m), including the Masdar City Complex and ‘The Link’, scheduled for completion in mid-2025.
Masdar City developments
He stressed that the development 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 as it looks to further expand.
“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.
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