The UAE has invested AED 1 trillion (US $270 billion) into its airport infrastructure so far according to the General Civil Aviation Authority (GCAA) director-general.
Saif Mohammed Al Suwaidi said the money feeds into projects across the whole of the country, including a fleet of 884 commercial aircrafts.
Al Suwaidi however said even more money must be invested to keep up with the developments in the aviation industry. He said: “I believe there is a need to inject more money in order to keep pace with massive and successive developments in the sector,” reported state news agency WAM.
The GCAA chief noted the upcoming Global Investment in Aviation Summit this year, a two-day event from January 27-28. The Dubai-based summit will showcase airport developments and key infrastructure developments.
WAM explained that the industry is currently experiencing rapid growth, construction and expansion, leading to the growth of economies in the Asia-Pacific and Middle East regions particularly. According to forecast reports from the International Air Transport Association (IATA), global passenger numbers will rise to 4.72 billion this year, 4% more than in 2019.
A key investment in the UAE is the Midfield Terminal Building (MTB) project in the country’s capital. Once complete, the terminal is expected to comprise 742,000 square metres, along with 65 aircraft gates, the capability to handle 8,500 passengers and 19,000 bags an hours, and 4,300 CCTV cameras. According to sister publication Aviation Business Middle East, the project costs more than $3 billion.