PPP, Dubai Sandbox, and Affordable Housing Policy: Innovative projects lay the groundwork for a more robust Dubai

Op-ed by Hisham Al Gurg, CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum

During a recent Executive Council meeting chaired by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, a number of game-changing initiatives that will stimulate Dubai’s economic landscape were given the green light.

Today, I chaired the first meeting of @TECofDubai in it’s new formation. This marks the start of a new strategic phase to enhance the government's operational framework and consolidate Dubai's global stature. During the meeting, we approved Dubai's AED40 billion project portfolio… pic.twitter.com/B5s11FODTX

— Hamdan bin Mohammed (@HamdanMohammed) March 17, 2024

One of the most noteworthy announcements was the approval of the ‘Dubai Portfolio for Public-Private Partnership.’ It is an ambitious undertaking that is set to run from 2024 to 2026 and will encompass ten fundamental economic sectors. It is projected to raise government expenditures to AED 700 billion, increase private sector investment to AED 1 trillion, and attract foreign direct investment (FDI) up to AED 650 billion by 2033. The Department of Finance, through Dubai Digital Platforms, will oversee the project’s implementation.

Another landmark announcement was the official launch of the ‘Dubai Sandbox’ strategy. It encloses four core pillars—economic impact, strategic impact, innovation, and applicability—designed to empower businesses and improve the city’s corporate setting. Fundamentally, it plans to accelerate the growth of 100 tech ventures in its first phase.

In collaboration with Dubai’s Department of Economy and Tourism (DET) and the Dubai Future Foundation (DFF), the initiative will enable the testing and commercialisation of state-of-the-art advancements in growing sectors such as artificial intelligence, health-tech, and green technologies.

Moreover, the Executive Council has launched the ‘Affordable Housing Policy’ which aligns with the visionary goals of The Dubai 2040 Urban Master Plan. This inclusive policy seeks to address diverse housing needs by prioritising social cohesion, urban development, and the provision of quality housing options.

What can we anticipate?

As an Emirati, I am enthusiastic about the newly approved programmes for Dubai. And, as the CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, I ponder over the major decisions made during the meeting and the impact they will have on the city’s economic framework. The Affordable Housing Policy outlines a plan for improved community life and accessible housing for all. It is a necessary step to enhance the living conditions of both natives and expats.

In addition, the PPP and Dubai Sandbox projects are imperative to supporting Dubai’s economic growth on a global scale. They are part of the comprehensive Dubai Economic Agenda (D33), which is designed to double the size of the emirate’s revenue by 2033. It also envisions establishing Dubai itself as one of the top three cities worldwide.

At Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, we have always believed in the value of strategic relationships in accelerating the formation and globalisation of small and established businesses. For over two decades, we have been privileged to work with promising foreign and local enterprises from a variety of industries, including healthcare, transportation, fintech, and artificial intelligence (AI). 

Given Seed Group and TPO’s rich history of building mutually beneficial alliances, I view the PPP and Dubai Sandbox projects as perfect opportunities to further cultivate innovation and collaboration. They provide ideal platforms where pioneering companies can test innovative solutions, scale their operations, and forge strategic affiliations in Dubai’s corporate world.

It’s an exciting time for Seed Group, and we’re optimistic about the possibility of playing a vital part in redefining Dubai’s future. We are looking forward to contributing our insights, resources, and capabilities to drive their success.