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Abu Dhabi to construct museums and patronize sectors like media, gaming in $6 billion spending plan
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The plan is part of the vision to diversify economy away from oil
Abu Dhabi will spend $6 billion over the next five years to construct museums, as well as sectors such as media, gaming, music and cultural heritage, according to the Financial Times.
It is part of the UAE capital’s efforts to diversify its economy away from oil. The investment will go towards building museums, as well as sectors such as media, gaming, music and cultural heritage, the FT said. Abu Dhabi has already committed $2.3 billion to projects in the sector, it said.
Preparatory work for the Guggenheim Abu Dhabi had been awarded, and the main contract for the museum is expected soon, Abu Dhabi Department of Culture and Tourism Chairman, Mohamed Al-Mubarak, told the FT.