Masdar City is advancing projects worth up to $1.1B in the design phase, with a focus on expanding into sectors like AI, space, agriculture, and energy.
Ahmed Baghoum, CEO of Masdar City, disclosed that projects in the design phase have investment costs ranging from AED 3B($817M) to AED 4B ($1.1B), targeting critical sectors such as energy, artificial intelligence, space, life sciences, and agriculture.
Speaking at the World Future Energy Summit, hosted by Abu Dhabi Future Energy Company, Baghoum highlighted that ongoing construction projects at the City, including the Masdar City Complex and ‘The Link’, are valued at around AED 1bn ($272.3M), set for completion by mid-2025.
Emphasising the City’s focus on pivotal sectors like energy, AI, space, life sciences, and agriculture, Baghoum underscored their significance for Abu Dhabi and the wider UAE. Discussions with foreign companies are underway to relocate and establish research centres in Masdar City, as part of its expansion plans.
Baghoum described Masdar City as a premier business and technology hub, offering numerous advantages such as full foreign ownership, income tax exemption, and unrestricted currency exchange to attract companies.