TAV Airports set to enhance capacity at Madinah Airport

Friday, March 22, 2024

TAV Airports and its consortium partner are set to invest USD 275 million in Madinah to bolster terminal capacity. The investment will entail the construction of a new domestic terminal and the enhancement of the existing terminal, aimed at accommodating up to 18 million passengers annually.

A part of Groupe ADP, TAV Airports is committed to expanding Madinah Airport to cope with escalating passenger demand. As Saudi Arabia’s inaugural airport privatization venture, Madinah Airport witnessed a remarkable surge, hosting 9.4 million passengers in 2023, marking a 49% increase from the previous year.

The “Head of Terms” agreement was formally signed in the presence of distinguished figures including Saudi Arabia’s Minister of Transport, Saleh bin Nasser AI Jasser, President of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, TAV Airports CEO, Serkan Kaptan, and Executive Board Member and Chair of ExCom, Franck Mereyde.

TAV Airports CEO Serkan Kaptan said “We have been successfully operating Madinah Airport, the gateway to the Holy Land, together with our partner Al-Rajhi, for the last 12 years. The passenger traffic is increasing on a very fast pace following lift of travel bans brought in during the pandemic. This new investment program will help accommodate increasing demand and is fully supporting Saudi Arabia’s Vision 2030, which aims to attract more visitors into the country”.

The partnership between TAV Airports and Al-Rajhi Holding secures the concession rights for operating Madinah Airport until May 2041.

As part of the planned investment, a new domestic terminal spanning 40,000 square meters will be constructed, alongside further development of the existing terminal to accommodate international traffic. Additionally, enhancements to connecting roads and an increase in carpark capacity are slated.

TAV Airports spearheaded the build-operate-transfer project for Madinah Airport, commencing operations in 2012. The construction of a new terminal, representing an investment of approximately USD 1.2 billion, positioned it as the first LEED-certified building in the MENA region.

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