OPINION Airport World
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The property market A
lettings agency recently told me that one of the fi rst things they are asked about a property is whether it has a garden.
A fair question I would say, especially if the
potential tenants have a young family. However, this is usually just the start of the queries about an often-tiny piece of land that they could more than likely walk around in less than 30 seconds. Is the garden or backyard north or south
facing – ie will it get the sun in the morning or the afternoon? How big is it? Is it open or secluded? Are there any trees or water features? Does it have a shed where we can store little Johnnie’s bike? All this for a back garden! Imagine how much
more complicated things get then when the property you own is an airport and your backyard could be twice the size of Manhattan, as is the case with Denver International Airport, which occupies an area of 140 square kilometres. Airports are multi-million dollar a year
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businesses, of course, and in recent times many have started to boost their revenue streams through the increased utilisation of the airport site for a range of non-aviation related activities. As you will read later in this ‘Land
development’ themed issue, this trend has led to the development of a host of new properties and facilities varying from hotels, offi ces and business parks to shopping malls and golf courses. Some have their own ‘Free Trade’ or ‘Free
Economic’ zones where they hope that tax exemptions and other incentives will encourage international business and trade. Indeed, the list includes South Korea’s Incheon International Airport, where a US led consortium is currently considering opening a new $2.5 billion casino. Elsewhere, Kuala Lumpur International
Airport is home to the Sepang International Circuit that hosts Formula 1’s Malaysian Grand Prix.
While a handful of airports are going about
developing their land a little differently by drilling for oil and gas or harnessing geothermal energy.
These include Denver International Airport,
which despite its huge size is not actually the largest gateway on the planet when it comes to landmass. That particular honour falls to Dammam’s King Fahd International Airport, whose 780 square kilometre site is larger than the country of Bahrain! Other airports with a signifi cant amount of
land at their disposal include Montréal–Mirabel – which occupies a massive 356 square kilometre area around 40 kilometres north west of the Canadian city – and Dallas/Fort Worth (DFW), which boasts a 73 square kilometre site. By comparison, the world’s busiest
international gateway, London Heathrow, takes up around 12.1 square kilometres. For the record, Juancho E Yrausquin
Airport on the Caribbean island of Saba in the Dutch Antilles is arguably the smallest gateway in the world – its tiny site boasting little more than an ATC tower, fi re station and a 396 metre long runway capable of handling small turbopop aircraft and helicopters. When it comes to renting a house by the way,
personally all I worry about is having somewhere to park my car! Enjoy the issue.
AW AIRPORT WORLD/FEBRUARY-MARCH 2011 3
Airport World editor, Joe Bates, refl ects on the increasingly inventive ways in which airports are developing their real estate.
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