Egypt to open 11 key airports to private sector investment

Egypt is preparing to open up the operations of 11 major airports to private investment, aiming to modernize the country’s aviation infrastructure and reach its goal of attracting 30 million tourists annually.

Backed by the World Bank’s International Finance Corp., the plan focuses on boosting efficiency and service standards while keeping state ownership intact.

Egyptian President Abdel Fattah Al-Sisi reviewed the strategy over the weekend, endorsing a timeline that begins with offering Hurghada airport on the Red Sea to the private sector by the end of 2025.

The initiative is set to be finalized next summer.

Gulf airports top international rankings for aviation hubs

Gulf airlines are pouring billions of dollars into building plush landmark airports and vying with each other to be recognized among the world’s top aviation hubs.

In the 2024 World Airport Awards by SkyTrax, Hamad International in Doha overtook Singapore’s Changi to take the top spot, while Dubai International jumped 10 spots to reach seventh place, Arabian Business reports.

Dubai International, the busiest airport in the world in 2023, was voted second-best for 70+ million passenger airports, bested by Tokyo Haneda. 

While the UAE and Qatar have led the regional aviation rivalry, Saudi Arabia is trying to make up for lost time after setting a national goal to attract 300 million air passengers by 2030, almost tripling current traffic.

Among the biggest Gulf airport projects currently under construction are the UAE’s Al Maktoum International Airport in Dubai, Saudi Arabia’s King Salman International Airport in Riyadh and Red Sea International Airport on the kingdom’s western coast, Kuwait International Airport in Kuwait City and Oman’s Muscat International Airport.