Portugal: New Lisbon Airport by 202218 January
Good news for the growing number of real estate and Portuguese Golden Visa investors targeting property in Portugal’s capital. Tourism growth is set to continue with the announcement that the Portuguese Government and the Airports of Portugal (ANA) have signed an agreement to expand the current Portela Airport, Humberto Delgado by 2022 by adding a new airport to the city.
Current Airport running over capacity for years
In 2017, Humberto Delgado Airport received 26.7 million passengers, 18.8% more than in 2016. The numbers for 2018 have not yet been disclosed but are expected to be even higher.
Francisco Pita, ANA administrator stated that the airport is working over capacity and cannot respond to the existing demand. In fact, there is a demand for an additional 1.8 million passengers per year that cannot be accommodated with the current facilities. A lot to do with the tremendous tourism growth in Portugal in recent years, which won, for two consecutive years, the prize for the best tourist destination in the world in the World Travel Awards.
Registering 24.6 million tourists in 2017 in Portugal and 4.5 million for Lisbon, tourism has grown by 40.7% from 2012 to 2017.
The New Montijo Airport
An economically efficient solution also adopted in other European cities such as Brussels, Frankfurt and Rome, the new Montijo airport will be a complement to Portela's airport and will accommodate all airlines, with a big focus on ‘low cost’ which will benefit from very attractive tax reductions on airport and luggage fees.
Settled in a military base in Montijo, the new airport is about 25-30 minutes from Lisbon which can be easily accessed by car, taxi, bus or boat. With a total investment of 1.15 billion Montijo was the best, cheapest, closest and fastest option. On top of that, Montijo airport was the only option that allowed the city to double the number of flights per hour to a total of 72 without interfering with any of the current routes.
Expected to be completed within the next 3 years, construction should start in 2019 once the environmental impact assessment report has been completed and approved. The future airport of Montijo is close to the Tagus Estuary, a protected habitat which is very important for the preservation of some species. The minister of planning and infrastructures, Pedro Marques, guarantees that all legal obligations and mitigation measures regarding environmental and safety matters will be fulfilled in order to minimize the impact of the airport in both the ecosystem and people’s lives.
The Portela Airport will remain the main airport and will go through several renovations until 2028. As a result, these two airports will allow Lisbon to serve an estimate of 43 million passengers by 2050.