United Arab Emirates President Sheikh Khalifa Bin Zayed Al Nahyan has died, state news agency WAM reported on Friday. He was also ruler of Abu Dhabi emirate. "The Ministry of Presidential Affairs condoles the people of the UAE, the Arab and Islamic nation and the world over the demise of His Highness Sheikh Khalifa bin Zayed Al Nahyan, the president of the UAE," a WAM statement read. The Ministry of Presidential Affairs announced that the UAE will observe a forty-day state mourning with the flag flown at half-mast starting Friday, and suspend work at all ministries, departments, and federal, local and private entities for three days. Under the constitution, vice-president and premier Sheikh Mohammed bin Rashid al-Maktoum, ruler of Dubai, will act as president until the federal council which groups the rulers of the seven emirates meets within 30 days to elect a new president. Khalifa, who was born in 1948, came to power in 2004 in the emirate Abu Dhabi and became the head of state. Since becoming the president of the UAE, Sheikh Khalifa has presided over a major restructuring of both the Federal Government and the government of Abu Dhabi. Under his reign, the UAE has witnessed an accelerated development that ensured decent living for the people calling the country home. After being elected as the President, Sheikh Khalifa launched his first strategic plan for the UAE government to achieve balanced and sustainable development, placing the prosperity of UAE citizens and residents at the core. (Developing)