Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has approved a portfolio of public-private partnership (PPP) projects of the Dubai government valued at AED40 billion ($10.9 billion).
Announced during the first meeting of the executive council since its reconstitution, the new PPP portfolio will cover 10 fundamental economic sectors over a three-year period (2024-2026).
The new portfolio aims to further enrich cooperation and inspire new collaborations between the public and private sectors in the emirate.
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Abdulrahman Saleh Al Saleh, director-general of the Department of Finance, said: “Launching an abundant, strong portfolio of projects is a fundamental pillar of the government’s PPP strategy, and we are ready to benefit from the success achieved in the previous stages of developing the PPP ecosystem and continue to innovate in financing vital government projects.”
“DOF has well positioned Dubai’s PPP ecosystem to become a global innovative destination for governments seeking to finance infrastructure and urban development projects. The government efforts led by DOF have resulted in laying solid foundations for building a comprehensive and integrated system in PPP. We will continue strengthening these foundations and build on them in close cooperation with our partners from government entities and private sector companies, which have the capabilities and expertise and look forward to increasing the positive return on their business,” Al Saleh added.
Five objectives
The programme for managing the PPP ecosystem performance within the government of Dubai revolves around five strategic objectives – ensuring compliance with the public-private partnership law, policies and guidelines throughout the partnership lifecycle; encouraging government entities to adopt the PPP model; encouraging private sector participation in public sector projects; stimulating innovation in project financing, development and operation through private sector participation; and pushing towards the adoption of environment, social and governance practices in the PPP ecosystem.
In 2023, the DOF launched a digital platform for managing projects within the PPP ecosystem. Dubbed DP3, the platform specialises in managing partnership projects implemented under the PPP framework across all stages, namely project identification and evaluation, implementation, and commencing of operations.
“The PPP strategy focuses on the continuous consolidation of the regulatory framework in the emirate. Therefore, DOF has built a comprehensive performance framework (CPF) programme to ensure accurate management of the PPP ecosystem performance,” said Arif Abdulrahman Ahli, Executive Director of the Planning and General Budget Sector at DOF.
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