Dubai will be able to finance some of the recently-announced raft of mega-projects out of its own resources, according to Hani Al Hamli, secretary general of the Dubai Economic Council.
“It’s true the global crisis has had a real effect on finances everywhere, but we do have our own resources and it will be achieved. It has the endorsement of Sheikh Mohammed [Vice President of the UAE and Ruler of Dubai],” he said at a conference on Dubai trade organised by the DEC and the World Bank.
In the past two weeks, the emirate has announced plans for big developments in the transport, retail and leisure sectors that will transform the city’s infrastructure.
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