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Dubai World Central to Sign Partnership Deals Today
DUBAI — Dubai World Central, a $33 billion multi-phase development, will sign partnership agreements on Wednesday during the Dubai Airshow, a top Dubai government official said.
The project, known as DWC, is a 1.5 billion square feet urban aviation community and an integrated logistics development that encompasses the world’s biggest international airport, a logistics free trade zone and commercial, residential and recreational city centres.
“We will be signing some partnership agreements at this airshow on Wednesday as we want to utilise this platform to promote our aviation city,” Rashed Buqara’a, Chief Operating Officer of DWC told Khaleej Times at the Dubai Airshow. These parnterships will significantly impact the overall development of the project, he added.
The Aviation City will provide end-to-end manufacturing, maintenance, research, training and other facilities in one place.
Ten-times larger than Dubai International Airport and Dubai Cargo Village, the new Al Maktoum International Airport is part of DWC’s Aviation City. When fully completed in 2015, it will have six parallel runways, three passenger terminals and 16 cargo terminals.
Buqara’a confirmed that the new airport would start operating from June next year. “Major components of the airport such as control tower and runways are complete and we are ready to open it next summer,” he said. Al Maktoum International Airport was the original venue for the 11th edition of Dubai Airshow, which is in progress at Dubai Airport Expo.
Al Maktoum airport is being built 40 kilometres away from the existing Dubai International Airport. Construction delays have pushed back its opening by almost a year. The new airport, costing $33 billion, will handle up to 160 million passengers annually after completion.
While ruling out any decline in property prices at DWC he said, “Our prices are very competitive with the market and we are extending flexibility to our clients as their success is our success,” he said.
He said some major players have started operations in DWC Logistics City and they have the advantage of first mover.
The logistics city is a specialised free zone and will serve every mode of transportation, logistics need, and value-adding operation in the supply chain, including manufacturing and assembly. It will consist of 16 air cargo terminals capable of processing more than 12 million tonnes of freight per year.
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