Sheikh Mohammed Bin Rashid Al Maktoum, the UAE’s Vice President and Prime Minister, has announced plans on Monday to consolidate the emirate’s position as a regional aviation hub by establishing itself as the leader in the field of designing and constructing airports.
The ruler of Dubai also issued a new law lays the foundation of Dubai Aviation Engineering Projects Establishment.
The state news agency WAM reported that the new entity, linked to the Dubai Aviation City Corporation, will enjoy financial and administrative independence.
The official statement said the new body “aims to strengthen the position of the emirate in the field of planning, designing and building airports and their amenities, as well as attracting local and foreign investments to the field”, citing article 5 of the law.
Government of Dubai owns and manages the city’s two airports, Dubai International and the new Al Maktoum International, which opened for cargo operations in 2010.
Dubai Airports recently announced plans to invest $7.8bn in Dubai International airport expansion to boost current capacity from 60 million passengers a year to 90 million by 2018.
Many analysts believe the expansion of airport infrastructure would generate $45.4bn in economic activity or 32% of GDP by 2020.