Dubai has nearly AED2.1 trillion ($571.5 billion) worth of projects underway across housing, transportation, aviation, infrastructure and economic development, with more projects to be announced in the coming phase, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said.

“We have AED2.1 trillion in active projects underway, with more to be announced in the coming phase,” Sheikh Mohammed said during the Mohammed bin Rashid Leadership Forum at Dubai World Trade Centre.

The portfolio includes AED1.1 trillion ($299.5 billion) allocated for real estate projects through 2030, AED128 billion ($34.9 billion) for Al Maktoum International Airport and AED328 billion ($89.3 billion) to expand the Emirates and flydubai fleets.

Another AED18.7 billion ($5.1 billion) is allocated for the new Emirates engineering and maintenance complex, while more than AED100 billion ($27.2 billion) is earmarked for Phase 2 of the Dubai International Financial Centre (DIFC).

Infrastructure investments include AED100 billion ($27.2 billion) for road upgrades and the development of the Dubai Metro Blue and Gold lines, AED80 billion ($21.8 billion) for the Dubai Strategic Sewerage Tunnels system, AED30 billion ($8.2 billion) for the Tasreef rainwater drainage project and AED151 billion ($41.1 billion) for new power and water grid infrastructure.

The plans also include AED10 billion ($2.7 billion) to expand the Dubai Exhibition Centre and AED4 billion ($1.1 billion) for the emirate’s Blue and Green Spaces Roadmap.

Al Maktoum International Airport is designed to handle up to 260 million passengers annually over the next decade, according to the announcement.

Sheikh Mohammed said Dubai was investing heavily in housing, transportation and infrastructure to prepare for a new phase of economic growth and accommodate the expansion of its population, businesses and economic sectors.

The emirate’s housing plans include delivering approximately 350,000 residential units, alongside the expansion of transport and infrastructure networks.

“Dubai is building a city within a city,” Sheikh Mohammed said, describing the current period as an opportunity for growth, development and investment.

The Mohammed bin Rashid Leadership Forum brought together 1,000 government and private sector leaders, alongside experts, decision-makers and academics, to discuss leadership, institutional performance and Dubai’s development priorities.