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Abu Dhabi, UAESaturday 20 October 2018

Thousands of jobs and homes to be created as part of Abu Dhabi investment plan

Tomorrow 2021 plan for future of Abu Dhabi economy continues to take shape as initiatives are announced

Sheikh Mohammed bin Zayed has announced Abu Dhabi's Tomorrow 2021 plan that includes 50 initiatives to spur growth in the emirate.  
Sheikh Mohammed bin Zayed has announced Abu Dhabi's Tomorrow 2021 plan that includes 50 initiatives to spur growth in the emirate.  

Thousands of new jobs, homes and places in schools will be provided as part of a Dh50 billion stimulus package designed to accelerate Abu Dhabi's economic growth.

The Tomorrow 2021 plan - or Ghadan in Arabic - is a wide-ranging series of reforms aimed at preparing the emirate for a more prosperous future and reduce dependency on the riches of oil.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, has set out four economic objectives - taking in business and investment, society, knowledge and innovation and lifestyle - as part of the 50-point plan of action.

The Abu Dhabi Executive Committee has approved 10 initiatives, according to the state news agency Wam. They cover three key areas - education and employment, housing and communities and social support.

Around 1,500 UAE nationals have been placed in jobs over the past three months, while more than 3,500 immediate vacancies came up across government and key private institutions.

The programme aims to create job opportunities, train jobseekers and overcome challenges of placement by establishing partnerships with the private sector. Targeted and special training programmes are being offered to build on capabilities and skills of jobseekers, to match their qualifications with available roles.

To upgrade education, six private “high quality” schools will be built, providing 15,000 extra places by 2021, while an additional 15,000 seats will be made available in government charter schools by next year.

The government charter school programme is also expected to create savings of Dh20,000 per student every academic year.

In line with the aim to double the number of housing loans granted to a total of 5,000 each year, the Abu Dhabi Government will increase the number of new houses to 15,000 over the next three years.

Around 2,500 homes were approved so far, with another 2,500 pending approval before the end of the year.

Community facilities will also be developed in the Khalifa City, Mohamed bin Zayed City, Shakhbout City and Zayed City, as part of a Dh3bn project under the plan.

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Read more:

Why Sheikh Mohammed's new economic plans are a game changer for Abu Dhabi

Crown Prince reveals Tomorrow 2021 plan for Abu Dhabi's economy including Dh20bn for spending next year

New housing plans will help make Abu Dhabi 'number one globally' for home ownership

Abu Dhabi's new Maan platform will channel volunteering to where it's most needed

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In another initiative, the Government of Abu Dhabi is preparing for the launch of Maan – a programme designed to “activate the social agenda” for the government, private and civil sectors to work together in building and developing the community.

A social investment fund will also be set up to support projects that help spur the development of social services in the capital, while volunteering opportunities will be created in an effort to strengthen the social fabric of Abu Dhabi.

The Social Assistance Authority has been tasked with a mandate to provide both financial and non-financial assistance to eligible families across the emirate. The authority will develop programmes that will enable families to become financially independent, with the scheme expected to be up-and-running next year.

Sheikh Mohammed bin Zayed said the Tomorrow 2021 plan includes "50 initiatives that reflect the priorities of citizens, residents and investors".

The initiative is part of an action plan building on the vision of an economy in a post-oil world that aims to stimulate investment, create jobs, spur innovation and improve the overall quality of life in Abu Dhabi.