Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum on Sunday approved a new passenger terminal in Al Maktoum International airport worth 128 billion AED ($34.85 billion), he said in a post on X.

The Al Maktoum International Airport will be the largest in the world with a capacity of up to 260 million passengers, and five times the size of Dubai International Airport, he added, saying that all operations at Dubai airport would be transferred to Al Maktoum in the coming years.

The Al Maktoum airport will also include 400 terminal gates and five runways, he said.

($1 = 3.6729 UAE dirham)

(Reporting by Ahmed Elimam Editing by Alexandra Hudson)