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The bench, a premier platform dedicated to growing connectivity to, from, and within the African continent and with a portfolio of world-class hotel investment conferences has announced the creation of AviaDev Real Estate,a new forum to connect African airports with real estate investors, developers and professional advisors.
The forum would be supported by NACO, (Netherlands Airport Consultants), a world leading airport consultancy and engineering firm with a rich history of supporting African airport development.
The initiative is expected to enhance their resilience and long-term prosperity with new revenue streams. it is estimated that only 4% of African airport revenue is derived from real estate, as compared to the other parts of the world, who generate income from classic airport real estate operations include leasing or selling their surrounding land for use as hotels, offices, car parks and warehouses, in addition to renting space inside terminal buildings for retail, restaurants.
AviaDev Real Estate will connect the owners and operators of African airports to those with the finance, skills and relevant contacts to develop the land and maximize its revenue potential. In turn, the airport industry, benefiting from more diverse real estate revenue streams, will become more resilient to potential travel disruption, increase the appeal to new carriers, and ultimately improve air connectivity across the continent.
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The forum will comprise pre-arranged, one-on-one meetings, in which participants can discuss specific business opportunities, and an interactive conference programme in which delegates can learn from one another, share ideas and network.
Jon Howell, CEO & Founder, AviaDev, said the synergies that flow from creating an airport real estate forum at the intersection of AHIF and AviaDev are incredibly compelling.
He added the mandate at AviaDev Africa is to improve air connectivity to, from and within the African continent expressing confidence that the forum will lead to developing a more resilient and thriving African aviation ecosystem that will benefit the entire value chain.
For his part, Marcel Langeslag, Director Aviation Africa at NACO, said focusing on non-passenger revenues such as commercial real estate, can make a substantial difference to the profitability and investment appeal of an airport.