Saudi Arabia is relaunching the privatization of its airports in an effort to diversify the kingdom’s oil-dominated economy and secure investment as it seeks to triple annual visitor numbers by 2030.
Ownership of the 29 airports has already been moved to a new entity, Matarat, in order to prepare them for the process, Abdulaziz Al Duailej, president of the General Authority of Civil Aviation, said in an interview Monday. An international investor roadshow could start in the next 12 to 18 months.
“I will not wait until 2030 to privatize the whole sector,” Al Duailej said on the sidelines of the Saudi Future of Aviation Forum in Riyadh, with the selloff to be completed long before then. He said it’s not yet clear how much the privatization program might raise.
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