Monday, 18 January 2010
Dubai ring-fences construction funding
Dubai Municipality said on Monday it has earmarked 2.5 billion dirhams ($681 million) from its 2010 budget for the completion of construction projects amid growing concern over the emirate’s finances.
The municipality said the ring-fenced funding “reiterates Dubai Government's support for the completion of infrastructure projects”.
The municipality said it has approved a budget of 4.39 billion dirhams for the current year and expects to post a surplus of up to 472 million dirhams.
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