UAE accounts for a third of investment in next eight years, says MACE economist
Ciara Walker, economist at MACE, has told meconstruction.com that the planned $38bn investment in Al Maktoum International Airport over the next eight years makes the UAE the largest market; accounting for more than a third of estimated total project value across the region.
In her Significant airport expansion planned by 2025 in MENA region report, which will be published later today on meconstruction.com, she says that Saudi Arabia is a distant second, “with $26.4bn of planned projects, including phase 2 and 3 of the $20bn Riyadh airport development bumping capacity to 80m passengers by 2035.”
According to Walker, ongoing passenger and cargo growth is driving demand for more capacity. An estimated $92bn airport schemes are planned in the region, driven by this strong demand, she adds.
“Between the projects currently under construction, and planned and un-awarded schemes the region’s existing airport capacity is expected to more than double by 2025.”
Look out for the Significant airport expansion planned by 2025 in MENA region report when it is published on meconstruction.com later today.