AED2.5 billion to complete property projects in Dubai

Dubai Municipality has approved a budget of AED4.39 billion for 2010, out of which it has allocated AED2.5 billion to complete construction projects this year, it announced on Monday. The move “reiterates the Dubai government’s support for the completion of infrastructure projects that propel the economy of the emirate,” Hussain Nasser Lootah, director general of Dubai Municipality said in a release.

The government body is expected to earn AED4.86 billion this year, which would lead to a surplus of up to AED472 million, he said, adding that the municipality is “pursuing strict fiscal policies in its work, especially through the rationalization of expenditures.”