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Developing successful landside real estate: An airport urbanism approach

Author

Listed:
  • Hirsh, Max

    (Managing Director, Airport City Academy)

Abstract

Landside real estate development is a crucial source of nonaeronautical income and an essential part of the airport business model. In recent decades, airports have launched hundreds of commercial real estate projects, often branded as an ‘airport city’ or ‘aerotropolis’. Research conducted at more than 50 airports worldwide, however, indicates that many airport real estate projects do not generate a substantial return on investment, while many others struggle to move from the planning stage to implementation. This paper investigates why these projects fail to meet their full potential. Drawing on expert interviews, the paper identifies the key factors that fundamentally determine the success or failure of landside real estate projects, highlighting customer focus and collaboration with local partners as the two most important drivers of success. The paper then introduces a new, people-focused development approach called airport urbanism (AU). Focusing on the needs and desires of the people who use the airport on a regular basis — passengers, employees and local residents — AU advances growth strategies that deliver long-term benefits to both the airport and the city that it serves. The paper concludes with a practical how-to guide for implementing AU.

Suggested Citation

  • Hirsh, Max, 2019. "Developing successful landside real estate: An airport urbanism approach," Journal of Airport Management, Henry Stewart Publications, vol. 13(2), pages 186-197, March.
    • Handle: RePEc:aza:jam000:y:2019:v:13:i:2:p:186-197
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    More about this item

    Keywords

    airport urbanism; landside real estate; nonaeronautical income; aerotropolis; airport city;
    All these keywords.

    JEL classification:

    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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