His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai announced the launch of the Dubai Future District on Tuesday.

The Dubai Future District is a new space for the development of the future economy, that will come with an AED1 billion fund to support new economy companies who can strengthen Dubai’s future growth.

The Dubai Future District will also connect DIFC, Emirates Towers and Dubai World Trade Centre

This venue is set to be the region’s largest future economy-focused district. HH Sheikh Mohammed also says the place will have an economy research centre, incubators and accelerators and a creative space for future economy pioneers.

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Today, at the second Dubai Council session, we launched the Dubai Future District, a new space dedicated to the development of the future economy, as well as a AED1 billion fund to support new economy companies who can power Dubai’s future growth. pic.twitter.com/ch2EgHbjQT

— HH Sheikh Mohammed (@HHShkMohd) January 14, 2020

Aside from this, directions have also been outlined to raise Dubai’s amount of non-oil foreign trade to AED2 trillion by 2025

A team has also been set-up a new logistical and legislative framework for new markets, as Dubai plans to become the capital of the new economy. This district is also set to help improve the city’s international visibility, to showcase its touristic, investment and commercial opportunities.

Dubai Future District will connect DIFC, Emirates Towers & Dubai World Trade Centre, making it the Middle East’s biggest future economy-focused district. It will include a future economy research centre, incubators &accelerators and an innovative space for future economy pioneers pic.twitter.com/mk78Jf1OTi

— HH Sheikh Mohammed (@HHShkMohd) January 14, 2020