Fraport to invest €1.25 billion in 14 regional airports across Greece

The 14 regional airports across Greece that the German-led Fraport Greece group operates are showing significant prospects for their commercial development, such as the opening of more stores and food service points, given that the growth in passenger numbers and improvement of services at the terminals is convincing more companies to invest in them, ekathimerini.com reports.

According to Giorgos Vilos, Fraport Greece’s commercial and corporate development director, the total area of commercial spaces for concession at the 14 terminals is expected to triple from 11,500 square meters today to almost 33,000 sq.m. upon the completion of the ongoing investment program.

Nearly half that (16,000-17,000 sq.m.) will concern new food service outlets, while 15,500 sq.m. will be covered by retail stores.

“Our objective is to enhance the variety of choices in all airports, both in food service and in consumption,” Vilos notes.

A case in point is the recent deal with US fast-food chain Burger King, which launched its first outlet in Greece at Rhodes Airport three months ago.

Of the 15,500 sq.m. available for stores, 12,000 sq.m. will be occupied by Hellenic Duty Free Shops, which parent company Dufry has agreed to expand from the existing 5,000 sq.m. The expansion is set to be concluded in 2021.

At the 14 regional airports Fraport manages, five new terminals will be created and another five will be significantly expanded.

The total area of 200,000 sq.m. that they cover today will expand to 330,000 sq.m. when the works finish.

The major expansion concerns the largest of the 14 airports, Thessaloniki’s: From an existing area of 27,000 sq.m., Makedonia Airport is set to grow to 60,000 sq.m. The new terminal will be delivered by end-2020.

The terminal on Santorini is programmed to triple in size, from 4,500 sq.m. to 15,600 sq.m.

Vilos announced that Fraport Greece will invest a total of 1.25 billion euros over the course of the concession contract’s period, while state revenues will reach up to 10 billion.

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