Welcome aboard: Sheikh Mohammed greenlights the expansion of Al Maktoum Airport!

Dubai is the house of tourism, the hub of record-breaking attractions, and the bucket list favourite for every traveller.

And let’s not forget, Dubai’s Airport isn’t just the world’s favourite and the busiest but was also one of the most visited airports in Q1 2024!

So, what’s new this time around? Sheikh Mohammed has announced the expansion of Al Maktoum Airport from DXB - and this airport is going to be one of the world’s largest, being five times larger than the current DXB airport.

Here’s everything you need to know…

The new passenger terminal of Dubai - Al Maktoum Airport

Of course, this project is no ordinary airport, it's going to be five times larger than the current DXB space and has an estimated cost of AED 128 billion!

The project plan entails a state-of-the-art passenger terminal that will redefine the standards previously set by T3 at DXB and will feature amenities never seen before at other airports.

This incredible airport will also surpass the current Dubai International Airport occupancy with a capacity to accommodate a staggering 260 million passengers annually.

This truly is aviation history in the making!

Sheikh Mohammed's visit to the Dubai Aviation Engineering Projects headquarters marked a pivotal moment in Dubai's aviation history as he approved the innovative designs for the terminal, he shared the strategic plan of Al Maktoum International Airport, envisioning it as “the nucleus of a dynamic urban ecosystem in Dubai South.”

With plans for the centre of the city to be built around the airport, it will be accommodating the needs of over a million residents and is set to expand on the sustainability aspect of developments. The project is coming to fruition with the D33 Economic Agenda.

The Airport of the Future, as it's been named, will not only revolutionise air travel but also focus on environmental sustainability. With new-age technologies and forward-thinking design, the airport will minimise its carbon footprint and achieve the LEED Gold Certification, for setting a new standard for eco-friendly infrastructure.

What does this mean for the real estate sector?

Our Operations Director; Paul Kelly shared his insights into how this would influence the real estate sector, he said:

“As the new terminal construction begins, we can expect multiple developers, commercial hubs, retail outlets, malls and other industries to relocate to Dubai South. We can anticipate Dubai South turning into the next centralised hub of the city, which in turn will increase demand for properties in the area.

As demand for the area increases, the property market in Dubai South is expected to thrive, resulting in higher returns on investment (ROIs) and more properties becoming available. It's a smart move to start investing now before prices start rising and to hold onto your investments for the long term.

In the immediate future, we can expect only a minor impact on existing communities in Dubai. People typically establish a strong sense of community in their current areas, so we do not anticipate any sudden mass relocations as such. There have not been any notable increases in available properties either, which means the secondary market will possibly only see a significant impact in the years to come.

What we might see later this year and moving into next year is a more competitive off-plan market in these areas. We expect potential increases in project launches in Dubai South and surrounding areas, which may result in increasing interest from investors and buyers”

Just another win for Dubai!

Sheikh Ahmed, Chairman of Dubai Aviation City Corporation, also shared his opinions on the new airport and spoke about how it is a testament to Dubai's commitment to innovation and progress. With a strategic plan in place, including advanced transport links and efficient public transportation within the airport, the project is set to propel Dubai's economy and cement its position as a global aviation hub - even more than usual.

With a focus on connectivity, accessibility, and passenger experience, the Airport of the Future is built to redefine all the possibilities of air travel, within the country and globally!

Considering moving early to the new central hub?

Have a look at Dubai South live listings here.