Those of you with rentals in Adelaide might want to keep your eyes trained on the sky, with the Master Plans for both Perth and Adelaide airports being recently approved by the federal government. The plans will come as a welcomed sight to South Australia, as the government looks to support future economic growth in both airport employment and the number of visiting passengers.
Adelaide Airport has welcomed the federal government's approval of its Master Plan. Based on their figures, it is already positioned as Australia's fifth largest airport for domestic flights and sixth for international, contributing $1.9 billion to the South Australian economy.
Adelaide Airport's Managing Director, Mark Young, said the foundations were now laid for Adelaide to become a quality airport business centre in the Asia Pacific region.
"Since privatisation in 1998, we've doubled the number of passengers and more than quadrupled the number of international passengers. We've also invested more than $500 million in infrastructure and facilitated a further $350 million in the past 10 years alone," he said.
Coupled with Adelaide Airport's 30-Year Vision, the Master Plan puts all the pieces into place for substantial investment in infrastructure which will include expanding the terminal and new facilities for business, featuring industry clusters as part of an Airport Business District. All in all the Plan forecasts $1 billion worth of investment and the creation of 3500 new jobs, bring the airport's total workforce up to more than 12,000.
As well, this development is a crucial move towards building Adelaide's attractiveness as a venue for business, further airline services and overall economic growth for the city and wider state. The investment opportunities, economic prosperity and population growth that will result from the expansion will be innumerable – and property in Adelaide is likely to experience the benefits.
"As a major economic and employment generator, the growth of Adelaide Airport is inextricably linked to the development of South Australia," Mr Young said.
You might want to consider property management in Adelaide if you're thinking about investing in real estate in this great city, or expanding your portfolio further. The opportunities are flying high so consult with your local real estate agent about what you can gain in the coming years.