Narita Airport to Complete Construction of Third Runway by March 2029
Narita International Airport in Japan Begins Construction of Third Runway
Work on a third runway at Japan's Narita International Airport, located in Narita, Chiba Prefecture, near Tokyo, commenced on Sunday. This project aims to enhance the airport's functions, with the runway expected to be completed by March 2029.
As a result of this expansion, the number of annual takeoff and landing slots at the airport will increase from the current 300,000 to 500,000. In conjunction with slots at Tokyo's Haneda Airport, the combined annual slots at the two airports serving the Japanese capital would reach one million.
The 670-billion-yen project includes the construction of a 3,500-meter runway, while Runway B will be extended by 1,000 meters, extending from its current 2,500 meters. The total land area of the airport will increase by nearly double, adds 1,099 hectares to its current size. The airport operator has secured 83% of the land needed for the expansion and plans to accelerate land acquisition this fiscal year.
Narita International Airport Corporation President Akihiko Tamura stated during a ceremony marking the start of construction, "It is an urgent task to further strengthen our functions to enhance the international competitiveness of the country and the Tokyo metropolitan area, receive more foreign tourists, and develop areas around the airport."
[1] The Jiji Press, Ltd.[2] The project's expected completion date is by the end of March 2029.[3] The airport operator has already secured 83% of the land required and plans to accelerate land acquisition through March 2026 to meet the completion timeline.[4] Global demand for air travel is projected to double in the next 20 years, with the Asia-Pacific region leading the growth among all regions.[5] Relevant data: The expansion project's total cost is 670 billion yen. The third runway will be 3,500 meters long, while Runway B will be extended from its current length of 2,500 meters to 3,500 meters. The total land area of the airport will increase by 1,099 hectares, nearly double the current size. The airport operator has secured 83% of the land required and plans to accelerate land acquisition this fiscal year.
[1] This airport expansion project, aiming to improve the international competitiveness of Japan and Tokyo, is part of a growing trend in the global stock market, as investors look to capitalize on the projected doubling of air travel demand in the Asia-Pacific region over the next two decades.
[2] As the Japanese economy evolves, businesses catering towards an increasingly global lifestyle, such as luxury brands and international cuisines, may find opportunities for growth at Narita International Airport, with the anticipated increase in both runways and annual takeoff and landing slots.
[3] With the additional 200,000 annual takeoff and landing slots, international travelers are expected to flock to the airport, bringing about a surge in opportunities for tourism and local business development in the surrounding areas – offering an exciting potential boost to the local economy.
