Dhs.300b to be invested in Dubai's Aviation Sector

Out of a trillion Dirhams to be spent on various developmental projects in Dubai a total of

Dh 300b will be invested in the emirate's aviation sector as part of Dubai Government's strategic plan 2015, which envisages for Dubai the role of the world's aviation and logistics hub, Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Department of Civil Aviation (DCA) and Chairman of Emirates Group, told a press conference at the Paris Air Show in Le Bourget. Sheikh Ahmed said that these investments will see the expansion of Dubai's existing airport to almost triple its passenger capacity and double its cargo capacity, the construction of what will eventually be the world's biggest airport, and the expansion of Emirate's fleet of now 100 plus aircraft to over 180. With Dubai emerging as the regional trade, business and tourism centre, DIA's role and scope of operations have acquired new significance. While Dubai currently handles in the vicinity of 30 million passengers annually, up to 60 million passengers, including 15 million tourists are expected by 2010, Sheikh Ahmed noted. "Considering that investments in tourism, hospitality, leisure and entertainment projects under construction in Dubai exceed USD365 billion, the number of visitors to Dubai will rise dramatically over the next few years. Our multi-billion investments in the aviation sector are in line with this projected growth," Sheikh Ahmed said.Adressing mediapersons from arounfd the world, Sheikh Ahmed also noted that the oil revenue constitutes less than five percent of Dubai's GDP while the share of services sector surged into 74 percent in 2005.Owing to the overall rapid development, Dubai will be a major market and centre for global aviation and aerospace sectors in the coming years, Sheikh Ahmed remarked. In this regard, Dubai Aerospace Enterprise (DAE) has made substantial progress in its ambitions to become a global player in aerospace since its inception last year. DAE announced on June 18, a strategic partnership for long term collaboration with Boeing, one of the world's leading commercial aircraft manufacturers."On the other hand, the growth and success of Dubai Air Show in attracting some of the biggest names is one indication of a promising future for these sectors in Dubai," Sheikh Ahmed noted. And the latest aviation event to emerge from Dubai is Aircraft Interiors Middle East (AIME),a B2B exhibition which will be held at Airport Expo Dubai in June next year.A total of 28.8 million passengers passed through Dubai International Airport in 2006, up 16.2 percent over 2005. The annual figure for 2007 is estimated to be over 33 million. Growing at an average of over 15 per cent per year since 2002, Dubai International Airport has jumped from the 30th position on the list of world's busiest five years ago to among the top 10 in 2007. To cope with this rapid growth, DIA is undergoing a massive expansion. Sheikh Ahmed said that the USD4.5 billion Dubai International Airport Expansion Programme, which involves the construction of Terminal 3, Concourse 2 and 3 meant exclusively for Emirates airlines, will enable the facility to handle up to 70 million passengers per year upon completion in 2009. The expansion project also involves the construction of a mega cargo terminal with 1.4 million tonnes annual capacity, taking the total annual capacity of Dubai Cargo Village to 2.8 million tonnes. The mega cargo terminal will be operational by the end of 2007, Sheikh Ahmed revealed. DCV is currently ranked 11th worldwide in terms of cargo movement, and is the busiest in the region.Located 40 kilometres from the existing Dubai International Airport (DIA), the US$ 10 billion international Airport (JXB) will have at least six parallel runways and as many concourses capable of handling 120 to 150 million passengers and more than 12 million tonnes of cargo per year upon completion. The world's biggest airport is already under construction at Dubai World Central, a US$33 billion project considered to be Dubai's most significant to date. Located 40 kilometres from the existing Dubai International Airport (DIA), the USD 10 billion international Airport (JXB) will have at least six parallel runways and as many concourses capable of handling 120 to 150 million passengers and more than 12 million tonnes of cargo per year upon completion.The first of the six runways will be completed by October 2007, enabling freighter operations to begin in 2008. The airport will be linked to the existing Dubai International via an express light rail system and dedicated road network. A customs-bonded road and rail corridor between the two airports will enable fast cargo and passenger movement, Sheikh Ahmed said.The airport will also have house the Executive Jet Centre , one of the biggest in the world, and will function as a one-stop centre for business jet operations, including leasing and chartering of business jets, ground handling, and VIP passenger handling.Designed to initially handle in excess of 100,000 aircraft movements a year, the EFC is due for completion in 2008, Sheikh Ahmed said. Source