The law specifies terms for partnerships between public and private sectors, saying that they must be economically, technologically and socially feasible, according to the report.
Sign off on projects will depend on the cost to the public body involved.
Projects that will cost less than Dh200 million (US$54.5 million) can be approved by that body's director general. Projects costing between Dh200mn and Dh500mn will be passed to the Dubai department of finance for approval, and more expensive projects will need sign off from the country's supreme financial policy committee, IJ Global said.
The new law was published in Dubai's official gazette this month and will come into effect on 17 November, Partnerships Bulletin said.
Sources told Partnerships Bulletin that they expect this to encourage private sector financing to play an important role in developing the city's infrastructure.
Dubai Airports said in March that it planned to build a solar array on the roof of Al Maktoum International airport in partnership with state utility company, Dubai Electricity and Water Authority (DEWA).
It was reported in April that the Qatar government is also increasingly interested in the PPP model.