MANILA, Philippines — The Philippines’ transportation chief on Friday disclosed that the government is considering closing the 70-year-old Ninoy Aquino International Airport and transforming it into a real estate development area, saying the country’s premier gateway "will not last forever." “It will be eight to nine years at most 10 years... that is the life span of NAIA. Because of the congested area and because of the technology at the airport,” Tugade said during the second leg of the Philippine Economic Briefing 2018 in Clark, Pampanga. In February, a team of tycoons, which has a combined capitalization of more than P2.2 trillion, said they submitted a $6.7-billion offer to rehabilitate NAIA. Listed builder Megawide Construction Corp. and its Indian partner, GMR, later announced they want to give NAIA a $3-billion makeover.

Source: Philippine Star April 13, 2018 10:07 UTC