Dubai Targets To Increase Revenue With $35 Billion Airport Project

After an extended break of many years, Dubai is building a new passenger terminal at Al Maktoum International Airport in anticipation of a spike in tourism.

Sheikh Mohammed bin Rashid Al Maktoum, the ruler of the Emirate, gave his assent to the terminal’s plans. The Dubai government estimates that the project would cost 128 billion dirhams, or $34.8 billion. The biennial Dubai Air Show is one of the main draws for cargo and private aircraft at Al Maktoum International Airport.

Dubai Airports is strategizing to incentivize more airlines to transition their operations to the new terminal in the coming years, as revealed by Paul Griffiths, Chief Executive Officer of the airport operator, in an interview.

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Dubai, recognized as one of the world’s busiest long-haul transit hubs, has experienced a surge in air traffic surpassing pre-pandemic levels due to an increase in visitor footfall and a revival in long-haul connecting flights. Emirates, the city’s flagship carrier, reported record half-year profits extending through September 2023 and has been advocating for DWC’s expansion to accommodate its growth plans and expanding fleet.

Construction work on Dubai’s Al Maktoum airport was halted in 2019 amid economic challenges in the Gulf region, as reported by Bloomberg. The airport is designed to rank among the world’s largest, with an annual capacity exceeding 260 million passengers, according to its operator.