DUBAI: Turkish airport operator TAV is planning to bid for new tenders in Vietnam, Indonesia, Malaysia and India in the next 12-24 months, CEO Sani Sener said, aiming to accelerate its push into new markets.
It has already built a significant presence in the Middle East, where it helped to build airports in the UAE, Bahrain, Saudi Arabia and Qatar.
It also operates Madinah Airport, the first airport privatization project in the Kingdom, and would be keen to bid for similar tenders in the Gulf.
In an interview in Dubai, Sener added that TAV Airports is also interested in airports across Africa, where passenger numbers exceed 1 million, and is eyeing potential airport privatizations in the Gulf.
“We are going to be very active in South East Asia and Africa and the Middle East, where we will continue to be active,” he said.
“We are a company from an emerging market and we always like the growth in emerging markets. The growth will be in emerging markets from now on.”
The company is keen to add to its portfolio and increase revenue from its service businesses to offset the impact of the end of its contract to run Istanbul’s Ataturk Airport.
Turkey’s new airport in Istanbul is due to start operating in 2018 and Ataturk, the existing hub for flagship carrier Turkish Airlines, is slated for closure in 2021.
TAV lost the tender to operate the new airport to a consortium led by Turkish group Limak, so has to find alternative revenue to replace its main earnings generator.
About 20 percent of the company’s revenue from airport operations originates from outside Turkey. TAV operates 14 airports in Turkey and other countries, including Georgia, Tunisia and Macedonia.
That percentage of income from foreign operations will rise in the coming years, Sener said without detailing a target.
The company is part of a consortium that has received preliminary qualification to bid for a group of five airports in the Philippines.
It is also hoping to bid for Indian deals, with about 50 airports being considered for potential privatization. Other markets in TAV’s sights are Africa and the Middle East, Sener added.
The bulk of airports in the region are run by governments but more are expected to be privatised in an effort to reduce the burden on state coffers squeezed by lower oil prices.
Turkish airport operator TAV plans bids in Middle East
Turkish airport operator TAV plans bids in Middle East
Saudi POS stays above $4bn as Ramadan spending lifts home goods
RIYADH: Saudi point-of-sale transactions remained above $4 billion in the week ending Feb. 14, with spending on furniture and home supplies rising ahead of Ramadan, central bank data showed.
Overall POS activity totaled SR15.34 billion ($4.09 billion), representing a 4.8 percent week-on-week decrease, while the number of transactions dipped 1.6 percent to 252 million, according to the Saudi Central Bank.
Spending on furniture and home supplies rose 5.9 percent to SR697.35 million, marking the strongest weekly increase among major retail categories.
Expenditure on electronics increased 2.9 percent, while spending on construction and building materials rose 1.1 percent.
Sectors that saw declines includes freight transport and courier services, which posted a drop of 5 percent to SR64.86 million.
Pharmacy and medical supplies spending fell 8.2 percent to SR223.81 million, but outlays on medical services rose 5.7 percent to SR539.68 million.
Food and beverage expenditure decreased 4.3 percent, but the total spend of SR2.57 billion meant it retained the largest share of POS activity.
Restaurants and cafes followed with SR1.73 billion, despite a 4.7 percent decline. Apparel and clothing outlays represented the third-largest share of POS spending during the monitored week, up 0.5 percent to SR1.38 billion.
The Kingdom’s major urban centers mirrored the mixed national changes. Riyadh, which accounted for the largest share of total POS spending, saw a 3.4 percent drop to SR5.32 billion. The number of transactions in the capital reached 80.7 million, down 0.8 percent week on week.
In Jeddah, transaction values decreased 4.4 percent to SR2.12 billion, while Dammam reported a 3.3 percent decrease to SR746.29 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
