GMR-Megawide takes over Mactan-Cebu International Airport in landmark deal

In a landmark deal for the Philippines' aviation industry, the GMR-Megawide consortium signed the concession agreement for the Mactan-Cebu International Airport (MCIA) project with the Department of Transportation and Communications (DOTC). This 25-year concession marks the start of a major transformation for MCIA, promising to establish it as the world's first resort airport.

Render of the Mactan-Cebu International Airport Terminal 2. Photo from GMR-Megawide via Facebook.

GMR-Megawide emerged victorious in the bidding process after fulfilling all post-award requirements, including a premium payment of Php14.4 billion to the Mactan-Cebu International Airport Authority (MCIAA). This substantial investment demonstrates the consortium's strong commitment to developing MCIA into a world-class airport facility.

The MCIAA is set to hand over operations to GMR-Megawide in October 2014. The consortium has ambitious plans for the airport, with construction slated to begin in January 2015 and targeted for completion by January 2018. This rapid development timeline is expected to significantly boost Cebu's tourism industry and economic growth.

The most exciting aspect of the project is GMR-Megawide's vision for MCIA as the world's first resort airport. The new terminal building will reportedly feature integrated resort amenities, including hotels, casinos, and entertainment facilities. This unique concept aims to create a seamless travel experience for passengers, blending leisure and transportation under one roof.

The signing of the concession agreement marks a significant milestone for Cebu's aviation landscape. The GMR-Megawide consortium's ambitious plans for MCIA promise to elevate the airport to a world-class facility, attracting more tourists and businesses to the island. The resort airport concept, in particular, has the potential to revolutionize the travel experience and establish Cebu as a premier tourism destination in the region.