The utility services provider reported Dh651 million net profit for Q1 2024, down from Dh763 million in same quarter last year
uae2 hours ago
If one had to identify a defining feature that has fuelled the spectacular transformation of Dubai, it would inarguably be investments in infrastructure. Modern, efficient, and reliable infrastructure is key to development, and Dubai has done well to invest judiciously in this space to power businesses, trade and commerce, and connect people with opportunities. And it continues to do so. The government's spending on infrastructure and construction projects is up by 43 per cent compared with last year. But what's making this journey towards development more meaningful is how these investments are being channelled.
The completion of the 3.2-km long tunnel that forms part of Route 2020 is a case in point. It's part of the mega transportation plan in the run-up to the six-month long Expo 2020, which will be held in about one and a half years. The city isn't in a rush to simply expand the realms of its urban space, but is looking at funding sustainable and reliable projects that will connect its people more efficiently. Metro lines are being extended, bus services are being added, and technology is being experimented with a focus on integration of transport networks. It's no mean feat considering that it is the first time the Expo is being hosted in a developing nation, and latest technology is being used to deliver truly 21st century solutions.
Concepts like 3D printing, flying taxis, autonomous cars, building of sustainable pavilion at the Expo site are all laying the foundation for the next leg of growth in Dubai. Consistent investment in infrastructure has proven beneficial. The UAE ranks the highest in the Mena region for the quality of infrastructure, and is the first in the region and third globally in terms of compatibility and connectedness.
Dubai airport, which was once a humbling refuelling station, now competes with some of the established names in the aviation business. It is a vital sector for the economy in terms of employment and tourism growth. So are ports, which are fuelling trade and commerce. Considering the transient nature of the population here, Dubai has done well until now to maintain a balance between supply and demand. It has notably emerged as a model state for cities in the region, and is likely to lead with this approach.
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