By Andy Sambidge www.arabianbusiness.com
Dubai’s transport authority has approved a budget of just over AED7 billion ($1.9 billion) for this year, with more than half put aside for new projects.
Mattar Al Tayer, chairman and executive director of the Roads and Transport Authority (RTA) said on Saturday that the operating budget would amount to AED3.156 billion and the capital and projects budget would total AED3.88 billion.
He added in a statement that revenues for 2014 are estimated at AED5 billion, up 17 percent on last year.
“The approved projects budget is estimated as AED3.62 billion which will be allocated for constructing around 99 projects; comprising 50 new projects to be undertaken in roads, marine transport and public transport sector, and 49 projects currently underway,” said Al Tayer. More info