Dubai, UAE: His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, inaugurated the 23rd edition of Airport Show at the Dubai World Trade Centre (DWTC) on Tuesday. The leading annual three-day trade-only exhibition dedicated to the Middle East, Africa, and South Asia (MEASA) was opened amidst the brightest outlook for the global aviation industry, the Middle East in particular, after complete recovery, prospects for all-time record in passenger numbers, grand airport expansions — all consolidating Dubai’s pre-eminence as the global hub of civil aviation.

Opening the Show, His Highness Sheikh Ahmed said: “Airport Show has evolved into a prominent B2B platform and a driving force for the airport industry to source their requirements, learn about fast-changing business dynamics and emerging trends and disruptive technologies. Every major airport is aiming to go big – in terms of growth targets, investments, and innovations. This event will provide airport leaders a unique opportunity to delve into the latest advancements in airport sustainability, digitalization, and urban air mobility.”

This year’s Airport Show is organized in the wake of the grand announcement by Dubai the plans for the construction of the world’s largest airport terminal. The $35 billion Al Maktoum International Airport is envisaged to have a capacity for 260 million passengers upon completion, five times the size of the current DXB. All operations at Dubai International (DXB) will be transferred to Al Maktoum International Airport (DWC) over the next few years. A new Dh128 billion passenger terminal at the Dubai World Central will scale up passenger capacity to 260 million annually and fully absorb DXB’s operations in 10 years. It will have five parallel runways and 400 aircraft gates.

The future growth of the aviation industry is exemplified by the results of Emirates, the world’s largest long-haul airline, which is in a strong position for future growth after it posted a record annual profit $4.7 billion in its financial year that ended on March 31, up 63% from $2.72 billion profit in the previous year. Commenting on the future of Dubai’s aviation sector, Paul Griffiths, the CEO of Dubai Airports said, “The expansion of Al Maktoum International Airport (DWC) signifies a monumental leap for Dubai’s aviation landscape. With a significant investment of AED128 billion, we’re not just building another airport; we’re shaping the very future of air travel and reimagining the airport of tomorrow. This project underscores Dubai’s unwavering commitment to providing our diverse and rapidly growing number of guests, world-class infrastructure, and experiences.” Griffiths, who addressed the Global Aviation Leaders’ Forum (GALF) collocated at the Airport Show on the opening day, added “As DXB continues to thrive, DWC’s expansion will unlock new opportunities for travel, tourism, logistics, and trade globally. We’re excited to collaborate with our partners and stakeholders on this transformative and ambitious journey, ensuring that Dubai remains at the forefront of the aviation industry for years to come.” The optimistic outlook is also derived from the Airports Council International (ACI)’s view that 2024 will be a milestone for global passenger traffic recovery as it reaches 9.4 billion passengers, surpassing the all-time high 9.2 billion passengers handled in 2019. Aircraft movements are forecast to grow to 111.6 million by 2026. Airports worldwide will see 153.8 million aircraft movements by 2041.

Meanwhile, Simone Dobson, Chief Operating Officer, Chestertons MENA, said: “The new airport will play a key role in realizing the Dubai 2040 plan, further reinforcing Dubai’s current position as a world-leading hub for business, real estate, tourism, and retail. The site of the existing Dubai International Airport will offer prime space for new investment, opening up a golden opportunity to regenerate the area to bring further economic growth to the city.” The announcement about the AED128 billion investment to build Dubai’s new demand for both residential and commercial airport will undoubtedly lead to increased real estate in the Dubai South area. This new area of Dubai has been growing in popularity in recent years, and the new airport will further drive demand. In terms of residential property, there will be significant demand from airport employees who will migrate from Dubai International Airport to Dubai World Central, with properties in the affordable price bracket likely to increase in popularity.

There will also be more demand for commercial, industrial, and warehousing space from companies who supply airlines and airport operations, added Dobson. Established residential communities, such as Discovery Gardens, Dubai Investment Park, and Al Furjan are also set to benefit as Dubai World Central becomes the new infrastructure centerpiece of Dubai, and we predict new developments along Sheikh Mohammed bin Zayed Road (E311) and Emirates Road (E611). The already thriving industrial areas of Dubai Investment Park, Jebel Ali, and Dubai Industrial City, as well as the new, but operational Dubai South Freezone, will also enjoy further growth, concluded.