Dubai hires international bank for USD3bn financing for airport expansions
Dubai has hired HSBC to help raise USD3bn to finance the expansion of its airports. Dubai International Airport and Al Maktoum International Airport will grow to serve 146mn passenger by 2025. The Dubai Department of Finance, the Investment Corporation of Dubai and Dubai Aviation City Corp. are working to raise Islamic and conventional financing. The announcement comes days after the UK government decided to expand London’s Heathrow airport following years of debate. (Bloomberg)
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