Dubai Aerospace Enterprise takes off

24 February 2006

Six local bodies together with the Dubai government have formed a new venture to help develop the emirate as a global aviation hub. Dubai Aerospace Enterprise (DAE) aims to attract $15,000 million of investment by 2015 and will act as a holding company for six operational subsidiaries - DAE Capital, DAE Manufacturing, DAE University, DAE Airports, DAE Engineering and DAE Services. Together, the subsidiaries will cover a range of aerospace activities including airport development and operations (ADO), aircraft leasing and finance (ALF), university teaching and research and aircraft maintenance and repair. The ADO business will focus on developing airport projects around the region and in Asia, especially in the rapidly emerging markets of China and India. ALF activities will capitalise on the rapid growth of wide-bodied aircraft fleets in the region, and offer Islamic and international leasing and funding options. The university and research centre along with the maintenance and repair facilities will be located in the Jebel Ali Airport City development.

DAE's founders are Dubai International Capital, Emaar Properties, Istithmar, Dubai International Financial Centre (DIFC), Amlak Finance and Dubai Airport Free Zone Authority (DAFZA).

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