Investment boom: AOT opens up new business opportunities at airports!

Investment boom: AOT opens up new business opportunities at airports!

There is a lot happening in Phuket, particularly when it comes to investment in the aviation and tourism industries. The Airports of Thailand Public Company Limited (AOT) recently hosted the AOT Property Showcase. The aim of this event was to invite investors and entrepreneurs to explore the promising business opportunities around six major airports in Thailand. Long-term leases, which can run for up to 30 years and are offered on both state and private land, are particularly popular.

There is enormous interest in developing commercial projects on AOT sites. Numerous offers have been received to rent space in and around the airports. In addition to Suvarnabhumi and Don Mueang airports, the airports in Chiang Mai, Mae Fah Luang Chiang Rai, Phuket and Hat Yai are also affected. The rental offerings cover a wide range of business opportunities, including hotels, maintenance centers, private jet terminals, as well as logistics centers and electric car charging stations. There are currently 16 projects in the approval process for AOT's business activities.

Promising development steps

In addition to the lease agreements, the AOT also wants to make better use of the existing space to promote the growth of the aviation and tourism industries in Thailand. For example, a 275 rai plot of land at Suvarnabhumi Airport is being marketed as an airport business site, just nine minutes from the passenger terminal. In Hat Yai, a plot of land is offered at Sukhothai Highway 4040, while at Mae Fah Luang Chiang Rai Airport, 91 Rai is available for development directly in front of the airport.

However, the preparations for the coming developments do not come about by chance. Prime Minister Srettha Thavasin unveiled “Vision Thailand 2030” in February 2024, which lists tourism and aviation as a top priority. In order to meet these goals, investments of more than 9 billion US dollars are planned in the construction and expansion of airports. At the same time, passenger numbers in Thailand are expected to grow by over 6 percent per year over the next two decades, according to information from Germany Trade & Invest.

Expansion and new projects

As part of these ambitious plans, the focus is not only on the existing airports. The large new construction projects such as Lanna Airport near Chiang Mai or the Andaman International Airport in Phuket are intended to sustainably increase capacity. Suvarnabhumi Airport is also being expanded north and east, with a new runway scheduled to be completed as early as 2024.

Additionally, more regional airports are being added, further expanding the opportunities for investors and developers who want to invest in this infrastructure. New airports are already being planned in Nahkon Pathorn, Mukdahan and Phayao, and Thailand is expected to see a significant increase in international tourist numbers in the coming years. Between 30 and 35 million international tourists are forecast for 2024.

This dynamic phase of development shows that Phuket and the other affected airports have a good sense of future projects and investments. The combination of growing passenger numbers and diverse business opportunities promises to be an interesting time for companies looking to invest in this sector. After all, aviation is a key driver of Thailand's economic development and the signs are clearly pointing to growth.