UAE's airport infrastructure investments hit $272.25bn
GCAA director-general says, “I believe there is a need to inject more money in order to keep pace with the sector”
The UAE’s General Civil Aviation Authority (GCAA) has revealed that the nation has invested $272bn (AED1tn) in airport infrastructure development projects until now, with investments covering projects across the country and a fleet of 884 commercial aircrafts.
Commenting on the growth in the aviation sector, the director-general of the GCAA, Saif Mohammed Al Suwaidi, said: “I believe there is a need to inject more money in order to keep pace with massive and successive developments in the sector.”
The aviation sector is experiencing growth in air transport, airport construction, and airport expansions, leading to the growth of regional and global economies, particularly in the Asia-Pacific region and the Middle East, according to state news agency, Wam.
The International Air Transport Association (IATA) has forecast that passenger numbers will rise to 4.72 billion in 2020, up 4% from 2019.
Construction Week reported in November 2019 that construction work on the Midfield Terminal Building (MTB) was more than 97% complete.
Meanwhile, the Global Investment in Aviation Summit (GIAS 2020), which is set to take place on 27-29 January in Dubai, will highlight airport development projects and infrastructure investments as part of its two-day agenda.