Industry partners have reportedly completed 30% of their projects in the Hub
The Mohammed Bin Rashid Aerospace Hub (MBRAH) has completed 70% of its infrastructure development, according to a report by UAE’s state media, WAM.
In an exclusive interview with WAM, a top executive at MBRAH said that industry partners have completed 30% of their projects in the Hub. Located in Dubai South, MBRAH is expecting more opportunities in maintenance, repair, and operations as companies start focusing more on their core airline business.
Commenting on the potential challenges in aerospace industry, Tahnoon Saif, CEO of MBRAH, said: “Responding to market changes is very important but the speed of our response and adapting with new realities is more important for us. We developed 70% of the infrastructure with flexibilities to accommodate new solutions that might evolve.”
“The airline industry will take a while to recover; however, we are enhancing our value proposition and leveraging our network and access to the world through cargo terminals and Jebel Ali seaport.”
Saif further stated that they are expecting a lot of mergers and acquisitions in the maintenance business over the next 12 months, since companies will want to focus on their core airline business and liquidate their engineering elements. This is because the current climate has impacted the global aerospace industry and there will be consolidation in the industry, bringing tremendous opportunities, he added.
The benefits of the efficient structure for light or heavy maintenance within the facilities at Al Maktoum International Airport far outweigh the high cost base of airports around the world, Saif pointed out, adding that the geographical location of Dubai at the crossroads of East and West is opportune for airlines worldwide for efficient aircraft maintenance services.
Elaborating on key projects in the Hub, Saif said: “We are progressing well with our projects, having signed two important agreements, one is the heliport with Air Chateau for multiple operators. They are partnering with us to build the facilities for maintenance and VIP Terminal services.”
He added that they will see ExecuJet – Zurich-headquartered business aviation company – develop new hangers and maintenance facilities within the next 18 months. They have also signed an agreement with an investor to set up a luxury vault to store and safeguard high valued items.
“Till date, $680 million was invested by the government and the private sector in the Hub, and we are expecting a higher growth rate when Al Maktoum International airport takes off with the commercial airline operations,” Saif explained, adding that the ultimate investment in MBR Aerospace Hub is expected to reach $4.63 billion by 2030.