UAE President announces $817m fund to boost space sector with advanced satellite project
News United Arab Emirates

UAE President announces $817m fund to boost space sector with an advanced satellite project

UAE President Mohamed bin Zayed has announced an $817 million investment and development fund for the space sector, called The National Space Fund.

The fund’s first project, named Sirb after the Arabic term for a flock of birds, will launch a constellation of advanced remote sensing satellites equipped with radar technologies to provide high-quality imaging capabilities. The project will contribute to climate change solutions, environmental sustainability, and disaster management.

The new fund aims to support the establishment of national companies in the space sector and boost national strategic and research projects. The move is expected to accelerate innovation in environmental sustainability and expand the UAE’s growing capabilities in the vital sector.


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