The operator of the Mactan-Cebu International Airport (MCIA), Megawide Construction Corporation is adding a real estate component to house a hotel, casino, and retail shops to the gateway complex.
Megawide president and chief executive officer Louie Ferrer told reporters at a briefing in Makati City on Wednesday that the company is in talks with several groups to develop a 6-hectare commercial complex within the MCIA grounds.
Once Megawide finalizes the terms and conditions for the lease, the company will bid out the 6-hecatre parcel for a commercial complex, Ferrer said.
“The target is we bid it out two months from now.” Ferrer noted.
Megawide holds a 25-year concession agreement to operate, maintain and modernize MCIA. It intends to lease the unused land for a third-party to develop the commercial complex.
“We are in talks with third party companies, both local and international.” Ferrer said.
Megawide targets to launch the complex by 2019.
In November 2014, the Department of Transportation and Communications (DOTC) turned over the operation and maintenance of MCIA to Megawide.
Under the concession agreement, Megawide is building a new terminal. The construction will start in 2018.
The expansion will raise to 12.5 million the airport’s yearly capacity from 8 million. After the 25-year concession, MCIA will have a passenger capacity of 23 million a year.
MCIA currently caters to 12 international flights with the Emirates’ Clark-Cebu-Dubai route the most recently launched.