Middle East airports to invest $86 billion for expansion
Airports in the Middle East are planning to invest $86 billion…
December 21, 2009 5:53 by kippreport
Airports in the Middle East are planning to invest $86 billion on expansion till 2015, according to a study released by Frost & Sullivan. “Although the tenders will be raised till 2015, active construction and implementation will continue till the end of 2020 as a result of the expansion plans,” the company clarified. The amount is estimated to double after 2025, says the report.
“The emergence of the Middle East as a global hub in the future is attributed to the expansion of the 12 major airports across the region that constitute over 90 percent of the total investment of $86 billion in the region,” Frost & Sullivan research analyst Gautam Ratan Kanal said in the report.
“The current economic slowdown will not impact the Middle East commercial aviation industry and airport development activities will persist despite the slowdown as most expansion activities are funded by governments in these countries,” he said.