UAE to invest $32bn in airport development

11 June 2015 (Last Updated June 11th, 2015 18:30)

The UAE Government has announced plans to spend nearly AED120bn ($32.67bn) on the development of airports that are seeing growth in passenger and cargo movements.

The UAE Government has announced plans to spend nearly AED120bn ($32.67bn) on the development of airports that are seeing growth in passenger and cargo movements.

Dubai Civil Aviation Authority (DCAA) president and Dubai Airports chairman Sheikh Ahmed bin Saeed Al Maktoum made the announcement in the latest edition of the DCAA newsletter.

The UAE airports have handled around 101 million passengers in 2014, 71 million of which were served by the Dubai International Airport alone.

"Dubai is working its way to be the global travel hub for the 21st century."

The aviation sector's contribution to the country's economy is expected to increase to $88bn by 2030.

Currently, the UAE is building the Dubai World Central (DWC), which is expected to become the world's largest airport with an annual capacity of 220 million passengers, when completed in 2022.

The Al Maktoum airport's international terminal, within the DWC, will be expanded to boost its capacity to 26 million annually by 2017.

The opening of concourse D at the Dubai International Airport this year is expected to increase the airport's capacity to more than 100 million annually by 2020.

Saeed Al Maktoum said: "Our stakeholders have invested billions of dirhams in the industry in line with the vision of making aviation a major contributor to our Dubai's unrivalled economic success story.

"The dramatic transformation of our aviation industry is a classic example of how well the industry is managed.

"Dubai is working its way to be the global travel hub for the 21st century."