The Emirate of Dubai intends to invest $35.7 billion to build a second airport, Al Maktoum International, and a logistics center in the south of the city, with a significant portion of the project’s financing to be debt-based.
According to sources, the investments will be made over the next 12 years in Dubai World Central and associated facilities, including Al Maktoum International Airport.
Spending plans are detailed in documents inviting banks to bid for a $3 billion loan that the Dubai government wants to contract for the first phase of the project, the sources added.
According to information published on the Dubai Airports website, the future Al Maktoum International Airport will be built in the center of Dubai World Central, a six-zone development project covering a total area of 140 sq km, including logistics, residential, office spaces, and golf courses. Development costs for the entire Dubai World Central project are estimated at over $32 billion.
Upon completion, Al Maktoum International will be the world’s largest airport, with a capacity of over 220 million passengers and 16 million tons of cargo per year.
Source: Economica
Frequently Asked Questions
What is the total investment for the new Dubai airport?
The Emirate of Dubai plans to invest $35.7 billion over the next 12 years to develop Al Maktoum International Airport and the surrounding logistics hub.
What will be the capacity of Al Maktoum International upon completion?
Once finished, it will be the world’s largest airport, capable of handling over 220 million passengers and 16 million tons of cargo annually.
How is the first phase of the project being funded?
The Dubai government is seeking a $3 billion loan from banks to finance the initial phase of the project.