News
Dubai pledges US$3 billion for airport development
May 19th 2017
Dubai’s Department of Finance (DOF), the Investment Corp. of Dubai and Dubai Aviation City Corp. have put in place US$3 billion in credit facilities for the future development of Dubai International and Dubai World Central (DWC; Al Maktoum) airports, the current and future home of Emirates Airline. Read More »
Dubai International is the world’s largest international airport and DWC is forecast to become the world’s largest international hub when fully built in 2025. Emirates intends to shift its operations to DWC in 2025, bringing the airport’s capacity to 146 million passengers a year from that date.
“Dubai remains firmly committed to the development of DWC and to growth of the global aviation sector, and this initial $3 billion transaction to support Dubai’s ambitious 2025 passenger capacity target is testament to our belief,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Civil Aviation Authority, chairman of Emirates Group and chairman of Dubai’s Supreme Fiscal Committee.
“In line with Dubai’s vision to maintain its status as one of the world’s most important cultural and commercial centres, the planned expansion of both of the city’s airports is critically important,” said DOF director-general, Abdulrahman Saleh Al Saleh.
