The Worlds Fastest Growing Airport

Dubai International Airport continues to see increased international passenger arrivals. Now established as the aviation and cargo centre of the Middle East and the world’s emerging business and tourism hub, the airport recorded its highest growth rate ever in 2007. Intelligent schemes such as the Dubai Airport Free Zone are providing attractive investment opportunities for business in the area.

Dubai International recorded unprecedented growth in international arrival figures of 19.31%, handling a total of 34.34 million passengers, well above the projected 33 million for 2007. The airport achieved 10th ranking in 2006’s Airport Council International’s list of the world’s busiest airports with 28.78 million passengers, therefore new ranking expectations are high. Likewise, this high growth rate means Dubai International has maintained an average growth rate of well over 15% per year for the last six years.

Dubai has connections with over 205 destinations across six continents through 120 airlines, handling an average of 725 aircraft movements per day. Over 95,000 people a day use the airport for their travel needs and, according to HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Airports, “Dubai International’s growth is a reflection of Dubai’s robust economy, and its rising popularity as an international commercial and tourism hub. It is also a clear sign of our intent and vision for the future of the aviation sector in Dubai.”

Mohammed Ahli, Director General of Dubai Civil Aviation Authority and CEO Air Traffic Services, explains the major reasons behind Dubai International’s sustaining growth for over half a decade: “We have had new airlines joining us periodically, thanks to Dubai’s envious position as the region’s best connection, and our destination network has also expanded rapidly, especially in recent years”.

27% of all passenger and aircraft movement in the Middle East and Africa region happens in Dubai. It is therefore hardly surprising that the airport will see a new terminal and associated facilities totalling US$4.5 billion to be completed by mid 2008.  Dubai is expected to receive 60 million passengers a year by 2010 and Paul Griffiths, CEO Dubai Airports, explains how “The opening of the new Terminal and associated facilities later this year means we will have the operational capacity to handle the increasing passenger throughput at Dubai International. Meanwhile we are currently working to maximize the use of our physical infrastructure to optimise the airport’s performance.”

Another important part of Dubai International’s development has been the establishment of a free zone limited by the boundary of the airport. HH Sheikh Ahmed bin Saeed Al Maktoum explains how this is “In line with the great strategy of our Government, to develop Dubai as an international, successful centre for business, trade and investment.”

As Dubai International’s expansion nears completion, unsurprisingly by Dubai’s standards, a project to create the world’s largest airport is already underway less than 40 kms away. Upon completion, Dubai World Central – Al Maktoum International will have the capacity to handle a further120 million passengers annually.

Sara Romera, analyst at propertyshowrooms.com reviews Dubai’s investment potential: “Dubai property prices are on the rise, with capital growth over the 15% mark and developments such as The Palm Jumeirah selling out in as little as 72 hours after their release. With a growing number of companies relocating their western employees to Dubai, an increased demand for rentals is inevitable, with yields unlikely to fall.  Also, with no capital gains tax in the country, Dubai can offer fantastic profit returns.”