The company’s initial endeavor will be to create a constellation of cutting-edge imaging satellites to be called Sirb, which is Arabic for a group of birds.

A new AED3 billion ($820 million) fund for the nation’s space industry has been unveiled by the UAE Space Agency, with early ambitions to manufacture satellites.

The country’s space engineering, sciences, and research applications have already seen previous ambitious undertakings, such as the Mars expedition. The new investment and development fund will support domestic and foreign businesses that are involved in these fields.