VPorts to develop advanced air mobility business park in Dubai

The UAE General Civil Aviation Authority (GCAA) has approved the development of an advanced air mobility (AAM) business park in Dubai. The facility will be built by Canada based-VPorts at the Mohammed bin Rashid Aerospace Hub (MBRAH), which is part of the Al Maktoum International Airport and Dubai South complex. As a part of the agreement, VPorts has signed a 25-year lease on a 37,000 square meter area, with an initial $40 million over three years. The construction will start in 2023, with the first part of the facility expected to open in 2024. Nexa Capital Partners will lead an