Abu Dhabi, capital of the United Arab Emirates, has plans to invest billions of dollars in tourism, infrastructure and industry to diversify its economy away from oil.

Across the oil-rich state, which accounts for more than half of the United Arab Emirates' economy, government-backed real estate, commercial and tourism projects, many conceived during the boom years of 2003-2008, are under review and in some cases being delayed or put on hold.

In October, the emirate delayed the opening of the Louvre and Guggenheim branches and the Zayed National Museum planned for the Saadiyat Island, a $27 billion project incorporating art, culture and resorts.

The Abu Dhabi Executive Council, the emirate's advisory body on Tuesday said it approved a raft of multi-billion dollar projects including the museums. It did not state the budgets or timelines.

"These institutions are strategic components of the Abu Dhabi Government's vision for the Emirate and this timeline has been finalized in close coordination with its partners and advisors, Agence France Museums, The British Museum, and the Solomon R. Guggenheim Foundation," the statement said.

Substantial work has already been completed on the museums. Detailed architectural designs have now been finalized, as well as all foundation and piling work, the statement added without giving details of costs.