Business | Aviation

Banks keen to fund Jebel Ali Airport City

Bank consortiums, led by leading local banks, are keen to raise finance for Dubai's Dh30 billion 140 square kilometre Airport City coming up in Jebel Ali, said top officials yesterday.

  • By Kokila Jacob, Staff Reporter
  • Published: 00:00 November 22, 2005
  • Gulf News

Dubai: Bank consortiums, led by leading local banks, are keen to raise finance for Dubai's Dh30 billion 140 square kilometre Airport City coming up in Jebel Ali, said top officials yesterday.

WAM
General Shaikh Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince and UAE Defence Minister, was briefed yesterday about the Jebel Ali Airport City development.

"We are talking with a lot of consortiums who are interested in financing the Jebel Ali Airport City," said Khalifa Al Zafein, director engineering and projects, Department of Civil Aviation, Dubai.

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Addressing a media launch of the Jebel Ali Airport City at the air show, Al Zafein said financing could be lead arranged through a leading UAE bank.

"Dubai's current airport is also self-financed anyway. The government does not fund it. The same goes for Jebel Ali Airport," said Al Zafein.

Central to JAAC is Jebel Ali International Airport (JXB), which upon completion, will have at least six parallel runways and as many concourses capable of handling more than 120 million passengers and more than 12 million tonnes of cargo per year.

The airport is expected to be ready to receive its first aircraft by the first quarter of 2007 and the Dubai Airshow will be hosted at Jebel Ali from 2009.

Strategy
Rebranded with new logos

Jebel Ali Airport City has been rebranded under a new umbrella company called World Central and a new logo.

World Central encompasses all sectors within the JAAC Commercial City, Logistics City, Aviation City and Science and Technology Park as well as the Residential City, Golf Resort and Exhibitions City.

Each will have separate logos.

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