01 April 2016

Saudi Arabia’s General Authority of Civil Aviation (GACA) is in talks with government agencies to set up free zones at Jeddah and Riyadh airports as part of a long-term plan to diversify the kingdom’s economy away from oil.

The free zones would aim to attract foreign businesses through relaxed licences, visa and taxation rules, available to various industries and services. They would be large enough to include manufacturing facilities, Faisal Al Sugair, vice-chairman of the GACA, told Reuters.

The GACA plans to privatise Saudi Arabia’s 27 international and domestic airports by 2020 as the kingdom seeks foreign investment to support state finances.

Al Sugair said he expected bids for Jeddah’s King Abdulaziz International Airport by the end of April while work on the new Terminal Five at Riyadh’s King Khaled International Airport would be completed in May and will be run as a concession by Dublin Airport Authority before the rest of the airport is itself privatised.

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• Saudis order 5pc cut in contract spending
• Airports free zones eyed
• KEO wins mixed-use hotel contract
• Update
• alfanar group strengthens its global presence
• Riyadh Metro on track despite spending cuts
• Six vie for contract

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