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AirCity concept (airport of Khabarovsk)

Project at-a-glance

Project highlights
Project indicators
Investment target and overview

Development of a commercial area (AirCity concept) in the territory adjacent to the international airport of Khabarovsk – creation of a multi-functional commercial complex with facilities directly or indirectly linked with the airport thus transforming the airport from a simple transport point transporting passengers and cargoes into a center of economic activity of the region, providing a wide range of services in aviation and non-aviation areas. The following is planned within the framework of development of the commercial area (AirCity concept) in the territory adjacent to the international airport of Khabarovsk (New):

  • construction of a 3-4 star hotel and business complex for 220-250 rooms with total area of ~ 12 th.m2.
  • construction of an up-to-date exhibition complex with total area of ~14 th.m2.
  • construction of a trade and entertainment center of the regional level with total area of 80 th.m2.
Total required investment, USD mln
190
USD including:
  • construction of the hotel and business complex: ~30 mln. USD
  • construction of the up-to-date exhibition complex: ~27 mln. USD
  • construction of the trade and entertainment complex: ~133 mln. USD
Use of proceds
New construction
Yes
Renovation/upgrade of existing assets
No
Project design
No
Preferred investment structure
Information about co-investors (names, investment share):
Confirmed
Potential
State Corporation “Bank of Development and Foreign Economic Activities (Vnesheconombank)”, Fund of Development of Far East and Baikal Region OJSC , Bank VTB OJSC
Ratio if equity in total capital, %
30
Project status. Available documents (yes/no)
Business idea
Yes
Preliminary research
Yes
Project feasibility study
Yes
Market research
Yes
Project design documentation
Yes
Financial model
Yes
Business plan
Yes
Project launch and closure, years
2013-2020
Official materials in support of the projects (decrees of either the federal or regional government, letters from local government, provision of incentives, etc.)
The Ministry of the RF for development of Far East included the project for complex development of the international airport of Khabarovsk (New) into the list of priority projects to be implemented in the Far Eastern federal district.
Key economic indicators
IRR (internal rate if return), %
For the hotel business complex – 14.1%, For the trade and entertainment complex: - 16.6%
Payback period, years
For the hotel business complex – 8 years, For the trade and entertainment complex: 11 years
NPV (net present value), USD mln
For the hotel business complex – USD 1.8 mln., For the trade and entertainment complex: USD 17.3 mln.
Implementation status. Information
on available facilities/equipment
The concept of development and feasibility study of implementation of projects for development of the commercial area (AirCity concept) in the territory adjacent to the international airport of Khabarovsk (New) were prepared. Negotiations are taken with core operators of commercial real estate interested to manage facilities in the future commercial area. Design works are being prepared.
Comments

In 2011 Khabarovsk Airport OJSC together with its strategic partner and shareholder - Corporation “International Airport of Inchon” (the Republic of Korea) prepared the master plan of development of the Khabarovsk airport till 2030 representing a stage-by-stage complex plan of development of the international airport of Khabarovsk (New) till 2030 aimed at achievement of the main strategic target – to become the main joint airport (hub) in Far East of the RF. Key strategies of development of the international airport of Khabarovsk (New) till 2030 determined in the master plan:

  • the strategy of modernization of infrastructural and service facilities;
  • the strategy of transformation into a multi-functional airport (AirCity concept);
  • the strategy of strengthening of hub operations.

In 2013 Ernst&Young developed a concept and feasibility study of implementation of the project for creation of a commercial area (AirCity concept) in the territory adjacent to the international airport of Khabarovsk (New).

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Project ID02/27/14

Region of Russian Federation, Area
Khabarovsk Krai, Khabarovsk
Sector
Transport Infrastructure
Parent company/shareholder
Khabarovsk Airport OJSC, KOMAKS Management Company LLC
Legal address of the shareholder, website

680031, Khabarovsk, Matveevskoe highway, 28 B

Position, full name of the CEO
of the shareholder
CEO of Khabarovsk Airport OJSC, Alekseev Boris Georgievich
Contact person, telephone number
Alekseev Boris Georgievich, tel.: +7 (4212) 26-35-30; 26-20-01, fax: +7 (4212) 26-36-61
Last update
09.06.2015
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