Waleed Abbas, Vice President of the New Urban Communities Authority for the Planning and Projects Sector, has announced the launch of a project in collaboration with the European Bank for Reconstruction and Development (EBRD) to develop an investment and sustainable asset management plan for one of the new cities, Invest-Gate reports.

Abbas explained that a working group, supervised by the EBRD, has been formed, consisting of members from various sectors of the Authority as well as local and international consulting offices involved in the project.

The EBRD is funding this initiative, providing technical support to the Authority in preparing the investment plan for the selected city. Additionally, a strategic plan will be developed, which will be updated annually for the Authority’s future projects in that city over a 30-year period, divided into five-year tactical plans.

The project also aims to enhance the quality of asset management and maintenance plans for the target city, with a focus on a comprehensive, long-term approach to asset preservation and efficient allocation of maintenance resources.

In line with these developments, the working group convened its inaugural meeting, led by Samar Khalil, Director General of the Planning and Projects Sector at the New Urban Communities Authority. During the meeting, the work plan and its various stages were discussed, along with the methodology to be employed in selecting one of the new cities for the study, which is expected to be finalized within two weeks.

Subsequently, the group will begin developing an investment plan for the chosen city, alongside a sustainable asset management plan.