The new Dubai airport, "Al Maktoum International Airport," symbolizes a forward-looking vision and embodies the emirate's ambition for global leadership and the forefront of travel in the coming years, with an expected increase in passenger traffic of over 4% in the UAE.
Al Maktoum Airport is considered a cornerstone in supporting economic growth in Dubai and the UAE, as its massive capacity of up to 260 million passengers annually will attract more investments, create new job opportunities, and stimulate various economic sectors. Officials in both the local and global aviation sectors have confirmed the significant impact of this major project on the economy in various aspects, noting that "the new airport will represent a revolution in airport design and the passenger journey."
Dubai Airports, the operator of Dubai International Airport and Al Maktoum International Airport, revealed the impact of adopting an AI-driven demand forecasting system, a step they consider a qualitative leap in airport supply chain management.
Global real estate companies have discussed the substantial effect that the new project will have on the real estate sector in Dubai and the UAE, especially in the areas surrounding the airport. Kamel Al Awadi, Regional Vice President of the International Air Transport Association (IATA) for Africa and the Middle East, stated in a statement to the Emirates News Agency (WAM) that the UAE is a leader in the aviation sector, and the new airport will support the growing capacity for the increasing number of visitors, which is expected to rise annually by 4% in the coming years.
For his part, Khaled Al Aisawi, Regional Director for the Gulf and Middle East at IATA, pointed out that the growth rate of aviation in the UAE and Dubai specifically is among the highest in the world, thus planning for the next 20 or 30 years must begin now.
Additionally, Adel Al Redha, Chief Operating Officer for Emirates Airlines, stated to WAM that the establishment of Al Maktoum Airport will have a positive reflection on Dubai's economy and on Emirates Airlines' future expansions, as it will allow for receiving and accommodating the steady growth in passenger numbers. He added that the airport will be the largest in the world, built on technology that will expedite passenger processes, making it one of the finest airports globally in every aspect.
On his part, Paul Griffiths, CEO of Dubai Airports, said, "The new airport will reinvent the way airports operate to make it more convenient for travelers." Cushman & Wakefield, a global real estate services firm, anticipates an increase in the popularity of residential and commercial properties in the areas adjacent to the airport, while Knight Frank, a global real estate consulting firm, has confirmed the pivotal role this expansion will play in influencing the real estate landscape, particularly in Dubai South, where the areas surrounding the new airport are expected to accommodate around one million residents.
Moreover, Standard & Poor's Global Ratings (S&P Global) mentioned that the project will impact the city and the economy as a whole, having direct effects on the real estate sector, especially in nearby areas. They noted the existence of many ongoing projects in the areas close to the airport, as well as several areas under development and other projects that will commence later and accelerate following the announcement of the expansion, clarifying that the workforce at the airport and in surrounding projects will create significant housing demand in nearby areas. Savills, a global real estate services company, also anticipates that the airport expansion will encourage the development of various infrastructure projects in the surrounding areas.
