Dubai Council launches Dubai Future District and $272 million fund
Dubai is set to launch a new stock market and a AED 1 billion ($272,265,200) fund to support new-economy companies, which have the potential to boost the emirate's future growth, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai and chairman of Dubai Executive Council, said in a tweet on Tuesday.
In addition, the Executive Council of Dubai has launched the Dubai Future District as the Middle East’s largest future economy-focused district, Al Maktoum added.
The new district will feature future economy research centre as well as business incubators and accelerators, he highlighted.
Moreover, a team has been created to develop a new logistical and legislative framework in order to achieve the emirate’s target of non-oil foreign trade of AED 2 trillion by 2025.