Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, issued a law setting up Dubai Aviation City Corporation (DACC).
The corporation will aim to keep pace with the rapid growth witnessed by the emirate in the field of aviation, and all activities related to the sector. The corporation will also work on opening up new economic and commercial fields with the aim of enhancing economic development in the emirate. The corporation’s duties include boosting the position of the emirate to become a global hub for all forms of air transportation and cargo, as well as supporting commercial, property, industrial and service investments pertaining to aviation. It will also be responsible for setting up a suitable environment for attracting investments into the emirate, and making Dubai the leading destination for organising aviation-related exhibitions, conferences and activities on both the local and global level.
DACC will also approve strategic plans for developing its services and operations, and coordinating with its subsidiaries in order to ensure all operational plans of the institutions are consistent with DACC. DACC will supervise these subsidiaries to achieve cooperation and organisation between them without affecting the prescribed jurisdictions of these subsidiaries. The corporation will determine uses for land plots and properties that are a part of DACC, and dividing them for commercial, residential, investment or industrial purposes.
The law also assigned DACC with determining and collecting fees for services it provides inside and outside the city, in coordination with subsidiaries, and approving the financing of projects related to DACC or any of its subsidiaries. The corporation will also supervise the budget and performance of its subsidiaries.
Shaikh Mohammad also issued Decree No. 12 appointing Shaikh Ahmad Bin Saeed Al Maktoum as Chairman of DACC.
