Emirates plans to invest between $10 billion and $12 billion in Dubai’s upcoming airport, Chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum said on Tuesday.
The government is advancing its $35 billion redevelopment of Al Maktoum International Airport, known as DWC, located in Dubai South.
Set to replace Dubai International Airport (DXB) as the city’s main aviation hub by 2032, DWC’s overall cost is likely to surpass the initial estimate, Sheikh Ahmed indicated.
“When we speak about Al Maktoum International, the scale is far larger,” he told reporters during a media briefing. “This does not include the additional infrastructure Emirates will develop.”
Sheikh Ahmed added that the airline will fund its commitment through a mix of cash reserves and new borrowing, and clarified that an IPO is not being considered.
