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INFRASTRUCTURE

total services went up to 52, an increase of 18 per cent. There was also a significant increase in the number of government services provided at post offices. For example, Ministry of Labour transactions rose by 108 per cent and remittances rose by 95 per cent.

Emirates Post subsidiaries include Empost, the UAE’s national courier company, the Electronic Documentation Centre, Emirates Marketing and Promotions, and the Wall Street Exchange Centre.

During 2007, Emirates Post entered a new phase of diversification that will see Dh1 billion being spent on a major expansion plan.

During 2007, Emirates Post entered a new phase of diversification that will see Dh1 billion being spent on a major expansion plan and the company entering new areas of activity, including air freighter services, a Middle East trucking service to complement its other ground delivery operations, and money management solutions. Emirates Post currently provides remittance services through its Wall Street Exchange Centre, but is poised to emerge as a major player in the US$40 billion remittances market as it plans to open multiple offices in Asia and Europe.

Empost announced the launch of its cargo and logistics service in February 2007. Al Ain International Airport has been selected as the main hub for the international courier and cargo business. Plans are to acquire 50 aircraft by 2012 in order to expand the service. The scheduled freighter operations, which will be implemented in four phases, will network with major cities in the Indian subcontinent, Middle East and Europe by the end of 2008.

The government service is in the process of forming a parent company called Emirates Post Group to oversee its rapidly expanding family of subsidiaries. Also in the pipeline is an IPO proposal that will be open to all investors, including expatriates. The IPO's public- government ratio is yet to be decided.

AIRPORTS

The region’s airports are undergoing a massive capacity expansion drive with the ten leading Middle East airports investing US$23.5 billion (Dh86.2 billion) in new airport capacity by 2012, providing space for 318 million passengers per year, up 292 per cent on current levels, and taking total annual airport capacity to 339 million.

@ w w w . u a e i n t e r a c t . c o m / p o s t

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