Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
GMR Group has qualified to submit a bid for the proposed Taif International Airport project in Saudi Arabia, which carries an estimated investment value of USD 800 million. The airport development will be executed under a public-private partnership model on a build-transfer-operate basis, with a concession period of 30 years, including construction. Several international consortiums have also cleared the qualification stage for the bidding process. The new airport is planned to include a passenger terminal, support facilities, utilities, parking and access infrastructure, along with provisions for future expansion. The project is expected to cater to long-term traffic growth and support regional aviation demand, including Umrah-related travel.
GMR Group has cleared the qualification stage to submit a bid for the proposed Taif International Airport project in Saudi Arabia, according to an update issued earlier this week by the country's National Center for Privatisation and PPP. The project has an estimated investment value of USD 800 million. Advertisement
Apart from GMR Group, several other international players have qualified for the bidding process. These include a consortium led by Bengaluru International Airport Ltd in partnership with Tamasuk, Turkey-based TAV Airports in association with Mada International Holding, an Irish consortium led by Daa International, and the Kalyon Insaat consortium.
The Taif International Airport project will be developed under a public-private partnership framework using a build-transfer-operate contract structure. The concession period is set at 30 years, which includes the construction phase of the project.
The planned development includes a commercial passenger terminal designed in line with projected capacity and demand, along with supporting infrastructure such as auxiliary facility buildings, utility networks, car parking areas and access roads required for standard airport operations. Provisions for future expansion have also been included to accommodate additional subsystem requirements over time.
The new airport is expected to address projected growth in passenger demand through 2055. It is also intended to serve as a viable alternative airport within the region's multi-airport system, supporting the movement of Umrah pilgrims and other travellers.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
