By Shweta Jain, Senior Reporter www.gulfnews.com
Dubai: The Dubai government yesterday announced a law creating Dubai Corporation for Aviation Engineering Projects (DCAEP) that will help the emirate leverage its expertise in master-planning and developing world-class airports in and outside the country.
Law No 12 of 2012 was issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, setting up DCAEP which will be attached to Dubai Aviation City Corporation, the conglomerate created to develop the $30-billion (Dh110.19 billion) Dubai World Central.
The law gives the new corporation complete administrative and financial independence, according to the announcement released through WAM.
“All the rights, obligations, jurisdictions, and responsibilities of Dubai Aviation City Corporation will be transferred to the newly set up corporation. Employees of the Aviation City Corporation will be transferred to the new one while preserving their obtained rights,” the law stipulates. More info