Dubai aims to spend $35.7 billion to develop its second airport and logistics hub in the south of the city and is likely to rely on debt for a significant part of the financing, two people with knowledge of the plan said.
The investments will be made in Dubai World Central and associated facilities, including Al Maktoum International airport, over the next 12 years, the people said, asking not to be identified because the information isn’t public. The spending plan is outlined in documents inviting banks to bid for a $3 billion loan the government is seeking to raise for initial expansion, the people said. HSBC Holdings Plc is the financial adviser on the loan.
