A consortium led by Dubai’s DAE Airports revealed that it would shortly announce its first overseas venture, part of a $120 billion airport projects which includes the construction and expansion of airports across the Middle East, India, China and Africa.
Under the project, dozens of new airports are either planned or under construction, according to Gulf News, with an estimated 50 new airports to be constructed by the consortium in China alone.
Several new airports are either planned or under construction in Lisbon, Mumbai, Qatar, Vietnam and Bangkok, while expansion projects are also planned by DAE Airports.
The massive airport construction and expansion project is in response to the growing tourism industry worldwide requiring greater and greater need for improved air traffic capacity. Global air traffic growth is expected to double by 2020, with a 13.1 per cent jump in the Middle East.
"Underpinning this growth in airport projects is a new wave of investment from the private sector, as more facilities around the world are privatised. Traditionally airports have been owned and operated by government agencies, which tended to be conservative in their growth strategies," explained Bob Johnson, DAE's Chief Executive Officer.
