Leasing
The Authority enters into tenured land lease ranging from 5 to 50 years with interested stakeholders to develop aviation related facilities
The tenure of the lease to be granted is usually determined by the capital outlay to be invested and the nature of the project. The lease tenure is usually structured in such a way that the investor would be able to recoup the investment with some financial benefits (profit) to justify the investment.
| Lease Period | Type of Investment Project |
|
5 – 15 years |
Petrol stations |
|
15 – 30 years |
Hangers |
|
30 – 50 years |
Hotels |
Lease Hold Charges
The Leasehold charges are grouped into three;
Premium
A premium is a one–and–for–all payment an investor shall make to the Authority for an approval leasehold tenure. It is a capital sum of money based on land value, lease period, capital investment and infrastructure facilities available at the area of location. Premium must be paid before the Investor signs a Legal Agreement (contract) with the Authority. Land lease offer usually become invalid after two weeks within which an acceptance must be made.
Annual Ground Rent
The ground rent is a yearly token fee paid by lessees (investors) to the Authority for leasehold. This rent is usually paid throughout the tenure of the lease, and usually reviewed periodically.
The current rate of premium and ground rent applicable at various airports can be found under the Airport's heading.
