Cen­tre’s ex­pan­sion

UAE air­lines lead the way with 552 planes in pipe­line

7 Days in Dubai - - BUSINESS -

Air­lines in the re­gion cur­rently have an es­ti­mated $345 bil­lion worth of air­craft on or­der, ac­cord­ing to MEED’s Avi­a­tion and Air­ports 2016 re­port.

With or­der num­bers close to 1,300, air­lines in the UAE lead the way with 552 air­craft on or­der, Qatar has 369, fol­lowed by Iran with 218.

Ac­cord­ing to com­pany re­ports, Eti­had Air­ways will have 179 air­craft de­liv­er­ies be­tween 2016 and 2025, Emi­rates Air­line has firm or­ders for 142 A380s while fly­dubai, which op­er­ates a sin­gle fleet type of Next-Gen­er­a­tion Boe­ing 737-800 air­craft, will take de­liv­ery of more than 100 air­craft by the end of 2023.

The re­port said: “While Dubai’s Emi­rates Air­line, Abu Dhabi’s Eti­had Air­ways and Qatar Air­ways lead the re­gion in terms of the value of on-or­der planes, most of the smaller air­lines have put in place re­struc­tur­ing pro­grammes to en­able them to con­trib­ute to the ex­pan­sion of each state’s econ­omy in view of lower oil in­come and in­creased ur­gency to di­ver­sify their economies away from oil.”

A pro­jected in­crease in pas­sen­ger traf­fic would also re­quire air­port up­grades. To cope with ex­tra pas­sen­ger traf­fic more than $100 bil­lion-worth of air­port pro­jects are un­der way and planned across the re­gion.

“These pro­jects are in­tended to ad­dress a ca­pac­ity gap as air­port pas­sen­ger vol­umes across the Mid­dle East has out­stripped ca­pac­ity by 11 per cent,” the re­port added. “With these, an ad­di­tional ca­pac­ity of 400 mil­lion pas­sen­gers a year can be ac­com­mo­dated across the re­gion’s air­ports over the next 10 to 20 years.”

The new and ex­panded air­ports are ex­pected to be com­plete be­tween the end of 2016 and 2020.

These in­clude Mus­cat In­ter­na­tional, Abu Dhabi In­ter­na­tional’s Mid­field Ter­mi­nal Com­plex, King Ab­du­laziz In­ter­na­tional in Jed­dah and the new pas­sen­ger ter­mi­nal at Bahrain In­ter­na­tional.

The largest po­ten­tial op­por­tu­ni­ties for con­tract­ing and sub-con­tract­ing com­pa­nies are ex­pected to come from the con­struc­tion of the next phase of Dubai’s Al Mak­toum In­ter­na­tional, the fur­ther ex­pan­sion of Jed­dah air­port, Ha­mad In­ter­na­tional’s ex­pan­sion in Doha, and the upgrade of air­ports in Iran.

The stag­ing of Expo 2020 Dubai and the 2022 FIFA World Cup in Qatar will fur­ther boost the re­gion’s pro­file.

Ma­jid Al Fut­taim will in­vest Dhs260 mil­lion to re­de­velop City Cen­tre Shar­jah. As part of the com­pany’s Dhs30 bil­lion in­vest­ment in the UAE by 2026, the City Cen­tre Shar­jah re­de­vel­op­ment is set for com­ple­tion in the last quar­ter of 2017, with hun­dreds of di­rect and in­di­rect jobs be­ing cre­ated. While in­creas­ing the mall’s fash­ion and life­style brands by 25 new store­fronts, boost­ing the to­tal num­ber of re­tail­ers to 150 and adding 13,700sqm of re­tail space, City Cen­tre Shar­jah’s ex­pan­sion will also in­clude a 12-screen VOX Cin­ema, a City Cen­tre Clinic and four new din­ing op­tions. Ghaith Sho­cair, of Ma­jid Al Fut­taim – Prop­er­ties, said: “Our Dhs260 mil­lion in­vest­ment in City Cen­tre Shar­jah will com­ple­ment the com­pany’s new mall be­ing de­vel­oped in Al Zahia as well as the ex­pan­sion of City Cen­tre Aj­man.” The re­de­vel­op­ment of as­sets such as City Cen­tre Shar­jah is a key el­e­ment of Ma­jid Al Fut­taim’s UAE strat­egy to open 10 new City Cen­tre des­ti­na­tions, 28 cine­mas and 40 Car­refour su­per­mar­kets by the end of 2020.

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