Masdar City CEO: 3 to 4 billion dirhams investments in projects under design in the artificial intelligence and life sciences sectors.
From Rami Samih..
Abu Dhabi, April 16 / WAM / Ahmed Baqhoum, CEO of Masdar City, said that there are projects under design with an investment cost ranging between 3 to 4 billion dirhams, focusing on vital and important sectors that include energy, artificial intelligence, space, the biosciences sector, and agriculture.
Baqhoum added, in statements to the Emirates News Agency, WAM, on the sidelines of the activities of the first day of the World Future Energy Summit, hosted by the Abu Dhabi Future Energy Company, Masdar, that the total volume of projects currently under construction in the city is estimated at about one billion dirhams, and includes… The Masdar City complex is in addition to the mixed-use project “The Link”, which is scheduled to be completed in the middle of next year 2025.
He pointed out that Masdar City announced several qualitative projects during the recent period, including the establishment of the first zero-energy mosque in the region, as the city aspires to establish a new standard in the sector of places of worship in the region, as the mosque, with an area of 2,349 square meters, produces and accommodates 1,300 worshipers, 100%. of the energy it needs throughout the year using 1,590 square meters of photovoltaic panels on site.
He pointed out that Masdar City also succeeded in delivering the first zero-energy commercial building, which is scheduled to be rented to one of the partners in Masdar City, and in which a new bioscience project is scheduled to be launched in the Emirate of Abu Dhabi, while work is also underway to complete the Masdar City complex at the end of the year. The ongoing project includes 50,000 square meters of commercial and office buildings, including the first zero-energy commercial building in the country with an area of 11,000 square meters, to which the Abu Dhabi Department of Energy will move, as this partnership reflects the commitment of both parties towards sustainability.
He stressed that Masdar City is currently focusing on vital and important sectors that include energy, artificial intelligence, space, the bioscience sector and agriculture, noting that all of these areas are important for the Emirate of Abu Dhabi in particular and the UAE in general, as we are working to support them and focus on them by attracting cadres and companies.
The CEO of Masdar City pointed out the importance of the city’s participation in the World Future Energy Summit, with a focus on sustainable urban development, pointing out that the participation aims to build bridges of communication with local and international buyers, with the presence of many participants and exhibitors at the summit.
Baqhoum stated that there are discussions with foreign companies with the aim of relocating and establishing their research centers in Masdar City, noting that the city is a center for business and technology according to the highest international standards, and offers important benefits and incentives to companies, including full ownership by foreigners, exemption from income taxes, and not imposing Restrictions on currency exchange.
He explained that companies looking to invest in clean technology and the renewable energy market, which is witnessing growth in the region, can benefit from the “one window for services” to facilitate and simplify the establishment and registration of companies and businesses in Abu Dhabi.
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