Al Maktoum Airport: The AED 128 Billion Project Reshaping Southern Dubai

Al Maktoum International is being rebuilt at AED 128 billion, with planned capacity of more than 260 million passengers a year, five parallel runways, two terminals and seven concourses. Dubai Airports said in September 2026 that the first major phase is on track to come on stream in the early 2030s with capacity for 150 million passengers annually, and that the next major infrastructure milestone is the opening of the second runway by the end of 2027.

Most buyers have heard the headline number. Fewer have followed the timeline. Here is where the project stands, in the order the announcements came.

DWC at a glance

• Project cost: AED 128 billion
• Construction packages under execution: more than AED 13 billion
• Additional packages being prepared for award: more than AED 55 billion
• Second runway: reported complete in June 2026, opening targeted by end of 2027
• First major phase: early 2030s
• Initial phase capacity: 150 million passengers a year
• Full capacity: more than 260 million passengers a year
• Runways at full build-out: five
• Concourses: seven
• Aircraft stands: more than 430

Sources: cost from the Dubai Media Office announcement of 28 April 2024; specification and construction figures from the June 2026 government update as reported by The National; phase timing and runway opening from the September 2026 Dubai Airports briefing.

What was approved, and what it becomes

Sheikh Mohammed approved the designs and the construction start on 28 April 2024, at a cost of AED 128 billion. The June 2026 government update gave this specification:

• Annual capacity exceeding 260 million passengers on completion of the final phase.
• 12 million tonnes of air cargo a year.
• Five parallel runways operating independently.
• Two passenger terminals and seven concourses.
• More than 430 aircraft stands.

The 2024 announcement described four satellite concourses and more than 400 aircraft contact stands; the June 2026 update lists seven concourses and more than 430 stands. The AED 128 billion figure is from the April 2024 announcement.

Where construction actually stands

The June 2026 government update gave these progress figures:

• Packages valued at more than AED 13 billion currently under execution.
• More than 17,000 concrete piles installed.
• Excavation works exceeding 45 million cubic metres.
• More than 10 million work hours over the preceding 15 months.
• On-site workforce of around 9,000, expected to rise to approximately 120,000 at peak construction.
• Packages with a combined value exceeding AED 55 billion being prepared for award by the end of 2026.

The National reported that the AED 55 billion tranche includes substructure works for the Western Passenger Terminal and structural frameworks for buildings covering about 1.5 million square metres.

When will Al Maktoum airport open?

Two official statements in 2026 give the timing.

In June 2026, the Dubai Government said the project remained on course to commence operations in 2032, in accordance with its long-term master plan. In September 2026, Dubai Airports CEO Paul Griffiths said development was moving full speed ahead, with the first major phase on track to come on stream in the early 2030s, providing capacity for 150 million passengers annually.

The two are consistent: 2032 sits inside the early 2030s. The June statement names a year, and the September briefing describes a band. The most recent official wording is early 2030s.

Has the second runway been completed or opened?

The two statements describe different milestones. The June 2026 update described the second runway as completed. The September 2026 update said the next major infrastructure milestone will be the opening of that runway by the end of 2027. That is physical completion followed by operational opening.

When will Dubai International close?

As of September 2026 no date has been published, and the official language is capacity-based rather than date-based. In September 2026 Griffiths described the transition as phased as capacity becomes available, with DXB operations ultimately moving to DWC once the initial 150 million passenger capacity is available. He mentioned flydubai potentially moving five or six aircraft as early as next year. Nothing in that is a commitment to a date.

What this means for Dubai South

The airport sits inside Dubai South. In the April 2024 announcement Sheikh Mohammed said that as a city is built around the airport in Dubai South, demand for housing for a million people will follow. That is a forecast of derived housing demand, not a committed target of one million permanent residents. Our Dubai South area guide covers location, metro, airport, property and living in the area.

On pricing, Bayut's Dubai Sales Market Report H1 2026 puts the average advertised price in Dubai South at AED 1,190 per square foot, with 2-bedroom asking prices averaging AED 1.41 million, and advertised apartment prices up 3.27% in the half-year (as of H1 2026).

Infrastructure spending does not guarantee property appreciation. Prices will also depend on residential supply, population growth, rental demand, handover volumes and wider Dubai market conditions. Given the airport's multi-year construction programme, the DWC story is better evaluated over a long holding period than through assumptions about immediate airport-led price movement.

Airport infrastructure versus metro infrastructure: why the property effects differ

These two kinds of infrastructure are often discussed interchangeably in Dubai property commentary, and they behave differently.

• Metro affects daily accessibility. The benefit is local, concentrated around stations, and it changes how residents move through the city every day.
• Airport expansion affects employment, logistics activity, commercial development and housing requirements. The benefit is regional, diffused across a wider area, and it builds over a longer period.

The two also run on different timetables. For confirmed metro infrastructure and the communities along the eastern corridor, see our Dubai Metro Blue Line guide, which covers the line station by station. For all Dubai Metro lines and stations, see the Dubai Metro map guide.