Masdar City CEO Ahmed Baghoum has revealed that the Abu Dhabi city has several projects in the design phase, with an estimated investment cost ranging between AED3-4 billion ($816 million-$1.08 billion). These projects target critical sectors such as energy, artificial intelligence (AI), space, life sciences, and agriculture.
Read more: Abu Dhabi’s Masdar completes 49 percent stake acquisition in U.K. offshore wind project
Baghoum, speaking to the Emirates News Agency (WAM) on the sidelines of the first day of the World Future Energy Summit hosted by Masdar, also stated that the total value of projects currently under construction in the city is around AED1 billion ($272.3 million). This includes the Masdar City Complex and ‘The Link,’ which are scheduled for completion by mid-2025.
Baghoum stressed that Masdar City is currently focusing on vital sectors, including energy, AI, space, life sciences, and agriculture, which are important for the Emirate of Abu Dhabi and the UAE as a whole. He noted that the city is working to support and focus on these areas by attracting talent and partners.
Furthermore, Baghoum mentioned that Masdar City is in discussions with foreign companies to relocate and establish their research centers within the city. He explained that Masdar City is a world-class business and technology hub, operating at the highest international standards, and offers companies a compelling package of advantages and incentives, including full foreign ownership, exemption from income tax, and unrestricted currency exchange.
For more news on sustainability, click here.
