The Middle East business jet market is expected to hit $1bn by 2012, according to industry officials. Ali Al Naqbi, founding chairman of the Middle East Business Aviation Association (MEBAA), the industry body behind MEBA, the industry business-to-business exhibition, said the current market for business jets in the Middle East offers 500 aircraft, representing 1.3% to 2% of the global market of 27,000 corporate jets. The Gulf is experiencing annual growth of about 15%, Al Naqbi told Gulf News. MEBA will be held from November 16-18 in Dubai.