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17 April 2024

Sheikh Hamdan launches Dubai’s new logo, allocates Dhs40b for ‘Dubai Portfolio for Public-Private Partnership’


Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, presided over the first meeting of The Executive Council of Dubai, following its recent reconstitution.
During the meeting, Sheikh Hamdan approved the launch of the Government of Dubai’s new logo and the allocation of Dhs40 billion for the ‘Dubai Portfolio for Public-Private Partnership’ for 2024-2026. Sheikh Hamdan also approved Dubai’s ‘Affordable Housing Policy’ and the ‘Dubai Sandbox’ project, designed to support 100 tech ventures in its initial phase.

Sheikh Hamdan praised the efforts of the former Council members in bolstering Dubai’s position on the global stage and extended a warm welcome to the new members. He said that the reconstituted Executive Council of Dubai marks the start of a new strategic phase to enhance the government’s operational framework and consolidate Dubai’s stature.
“The newly formed Executive Council of Dubai will act as the driving force and catalyst for constructive change for Dubai. It will play a pivotal role in ensuring sustainable development, enhancing people’s wellbeing, and strengthening Dubai's global standing,” Sheikh Hamdan said.

“We have revitalised Dubai’s iconic old emblem and adopted it as the new logo for the Government of Dubai. The new logo symbolises the emirate's visionary leadership, transformative development journey, and evolution into a city of the future,” His Highness said.

The government’s identity goes beyond the logo, encompassing dedicated teams committed to serving and operating under a culture of efficiency and excellence, His Highness noted. “These teams are a source of great pride and represent the cornerstone of Dubai’s success as a leading global city and a leading destination for living and working,  Sheikh Hamdan added.

Sheikh Hamdan directed the General Secretariat of The Executive Council of Dubai to oversee the immediate implementation of the new logo across Dubai’s Government entities. In addition to adopting the new logo, entities will retain their individual logos to reflect their distinctiveness.

The General Secretariat of the Executive Council of Dubai said that government entities will be granted a six-month transition period to implement the new logo.

Dhs40 billion to boost development projects

During the meeting, The Executive Council of Dubai approved Dhs 40 billion for the ‘Dubai Portfolio for Public-Private Partnership’. Overseen by the Department of Finance through the Dubai Digital Platforms, the portfolio aligns with the objectives outlined in the Dubai Economic Agenda, D33. These goals include increasing government spending to Dhs 700 billion, elevating private sector investment in development projects to Dhs 1 trillion, and raising foreign direct investment to Dhs 650 billion by 2033.

Since its launch in 2021, the portfolio has seen growth in both its value and the number of public-private partnership projects. Originally comprising 30 projects in sectors such as infrastructure, public transport, and urban development, valued at over Dhs 25 billion, it underscores the crucial role of private companies as strategic partners in the emirate's development.

Affordable Housing Policy

The ‘Affordable Housing Policy’ is aligned with the goals of Dubai's 2040 Urban Master Plan, which aims to foster vibrant and healthy communities by providing diverse job opportunities and addressing housing needs.

This policy will cater to various segments of society, offering a range of housing options suitable for individuals across different income levels. Additionally, it will facilitate the development of new accommodations for workers closer to their workplaces, enhancing the quality of these facilities and ensuring the provision of adequate services for all segments of society.

Aligned with Dubai's commitment to enhancing its global standing as a leading destination for living and working, the policy seeks to strengthen social cohesion and improve urban development. Multiple entities, including Dubai Municipality, the Roads and Transport Authority, Dubai Land Department, and Dubai Electricity and Water Authority, are involved in implementing the policy.

Dubai Sandbox project

The ‘Dubai Sandbox’ project has been approved to support the testing and regulation of cutting-edge technologies in Dubai. It enables tech projects and assists government entities in implementing legislation to keep pace with technological advancements. Comprising four main pillars—economic impact, strategic impact, innovation, and applicability—the project aims to empower companies and enhance Dubai's business environment.

In collaboration with Dubai’s Department of Economy and Tourism and the Dubai Future Foundation, the project focuses on establishing a standardised governance and regulatory framework for innovation. The ‘Dubai Sandbox’ project will accelerate the growth of start-ups based in Dubai, particularly in technology and emerging sectors, fostering an entrepreneurial culture and facilitating access to funding. Additionally, it seeks to have an international impact by integrating with the global innovation ecosystem.

As part of the first package of 100 transformative projects of D33, aimed at doubling the emirate's economy over the next decade and positioning Dubai as one of the world’s top three city economies, the project aligns with the D33 agenda's goal of establishing Dubai as a leading hub for innovation. This includes areas such as artificial intelligence, real estate technology, health-tech, and green technologies geared toward addressing climate change.