Gulf's aviation construction projects valued at $49bn
BNC Network said 95 aviation projects are under way in the GCC, the highest-valued of which is the $12bn New Kuwait Airport
Aviation projects worth almost $50bn are under way in the Gulf, it has been revealed.
Among the 95 aviation projects listed in the GCC, which have a combined value of $49bn, are the $12bn-worth greenfield New Kuwait Airport, and the $4.6bn-worth passenger terminal expansion at Kuwait International Airport (KWI).
The New Kuwait Airport, currently in the concept stage, and KWI's under-construction terminal expansion, are both due for completion in 2022.
Of the 95 projects, 68 developments, worth $45bn, are airport and terminal projects, while the remaining 27, valued at $3bn, include hangar, runway, and ancillary facilities.
The UAE's $2.94bn Abu Dhabi International Airport's Midfield Terminal Building (MTB), and the $2bn-worth Phase 2 of Saudi Arabia's King Abdulaziz International Airport Expansion, are among the GCC's largest aviation schemes, according to data released by BNC Network.
Commenting on the regional aviation sector's growth prospects, Avin Gidwani, chief executive officer of BNC Network, said: "The expansion of airline fleet will put additional pressure on the region’s aviation infrastructure in the future.
"Therefore, the investment in airport capacity expansion, as well as the development of new airports, will help manage the future demand of air traffic.
"Dubai economy is a classic example and a textbook case of how aviation sector can make a significant difference in an economy."