A host of leading local Emirate banks and bank consortiums have expressed interest in raising the Dh30 billion necessary to develop the 140 square kilometer Jebel Ali Airport City (JAAC).
Addressing a media launch of the JAAC, Khalifa Al Zafein of the Department of Civil Aviation in Dubai announced, "We are talking with a lot of consortiums who are interested in financing the Jebel Ali Airport City," according to <i>Gulf News</i>.
He added, "Dubai's current airport is also self-financed anyway. The government does not fund it. The same goes for Jebel Ali Airport."
Jebel Ali International Airport (JXB) is central to JAAC. The new airport is expected to be ready to receive its first aircraft by the first quarter of 2007.
Jebel Ali Airport City has been rebranded under the World Central, a new umbrella company which encompasses all sectors within the JAAC Commercial City, Aviation City and Science and Technology Park, Logistics City, and the Golf Resort and Exhibitions City and Residential City.
