Aviation projects worth almost $50 billion 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 $49 billion, are the $12 billion greenfield New Kuwait Airport, and the $4.6 billion passenger terminal expansion at Kuwait International Airport (KIA).
The New Kuwait Airport, currently in the concept stage, and KWI's under-construction terminal expansion, are both due for completion in 2022, according to data released by BNC Network.
Of the 95 projects, 68 developments, worth $45 billion, are the airport and terminal projects, while the remaining 27, valued at $3 billion, include a hangar, runway, and ancillary facilities, the data, cited by Construction Week Online, showed.
The UAE's $2.94 billion Abu Dhabi International Airport's Midfield Terminal Building (MTB), and the $2 billion Phase 2 of Saudi Arabia's King Abdulaziz International Airport Expansion are also among the GCC's largest aviation schemes.
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."
Source: Arabian Business