Dubai has kicked off the construction of a massive $35 billion airport terminal, slated to become the largest in the world upon completion, according to the emirate’s ruler.

Sheikh Mohammed bin Rashid Al Maktoum, Dubai’s Prime Minister and Vice President, revealed on Sunday that the new terminal would be five times the size of the current Dubai International Airport. It’s designed to accommodate an impressive 260 million passengers annually.

The ambitious project involves transferring all operations from the existing Dubai International Airport to the new Al Maktoum International Airport over the coming years. Sheikh Mohammed emphasized that this move is not just about building an airport but about creating an entire city around it in Dubai South. This expansion will drive demand for housing and attract top companies in logistics and air transport.

“We are laying the foundation for future generations, ensuring sustained development for our children and their children,” Sheikh Mohammed remarked. Once finished, Al Maktoum International Airport, which initially opened its doors in 2010, will become the new home of Emirates, Dubai’s flagship carrier. The facility will boast five parallel runways and a staggering 400 aircraft gates.

Paul Griffiths, CEO of Dubai Airports, hailed the project as a significant milestone that will strengthen Dubai’s position as a global aviation hub. He emphasized the vital role of aviation infrastructure in Dubai’s growth trajectory.

Dubai International Airport has been the world’s busiest airport for international travel for a decade, but its capacity has been stretched thin. In 2023, nearly 87 million passengers passed through the transit hub, surpassing pre-pandemic levels. Dubai’s tourism sector has also been thriving, with a record-breaking 17.15 million international overnight visitors in 2023, marking a nearly 20 percent increase from the previous year.