Florida flying high! New airport expansion set to welcome 45 million travellers and boost rental opportunities
- $1.1 billion Orlando International Airport expansion will welcome up to 45 million visitors
- State of Florida on track to see record-breaking tourist figures of 100 million by end of 2014
- Brookes & Co launching new Orlando project for investors looking to capitalise on growth
A major new expansion plan will see Orlando International Airport welcome up to 45 million travellers by 2020, spelling great news for those investing in the growing destination. The $1.1 billion scheme has just been approved by airport officials, in light of the airport having welcomed an additional 4.2% travellers this August, and within the context of the state of Florida aiming for record-breaking visitor numbers of 100 million by the end of 2014.
The announcement of this newly confirmed expansion, is no surprise given Orlando’s reputation as a perennially popular destination for families looking to make the most of all the Sunshine State has to offer, as well as those looking for the ideal leisure break. A place of action-packed days and fun-filled nights, from beautiful beaches to world-famous theme parks, the excitement of the water parks to the plentiful shopping facilities on offer along with world class golf courses, Florida’s magic inspires all who visit from both the US and overseas.
Philip Button, Managing Director of specialist property investment company Brookes & Co, which has been working in the Florida property market for over a decade, gives his reaction to the airport expansion announcement,
“The Orlando International Airport expansion plan is excellent news. Florida’s tourism sector is an important part of the state’s economy and a significant proportion of those tourists access Florida via Orlando. The expansion scheme will ensure that those visiting Florida find the process of getting here a pleasant one, as the airport’s capacity grows in line with demand.”
Due to the nature and size of the airport expansion plan, the project has been divided into manageable sub-projects which include $470 million that will be spent to expand the airport’s people mover system and provide a 3,500-space parking garage, easing movement between flights; $120 million towards a new south terminal; and $114 million to improve the flow of international traffic at Airside 4.
Such ambitious growth plans are appropriate given the fact that at present the airport handles far more passengers than was originally intended, as Greater Orlando Aviation Authority Executive Director Phil Brown observed,
“Orlando International Airport, designed to handle 24 million passengers a year, witnessed a passenger count of 35 million in 2012” making the airport expansion long overdue and a very welcome addition for those travelling regularly through its doors.
Such a development scheme will not only increase visitor numbers and their experience, it is also likely to have an impact on local property prices. This has positive implications for those who have already bought in Florida, such as those previously purchasing at The Fountains at ChampionsGate with Brookes and Co, taking advantage of the healthy rental returns on offer as well as top class golfing facilities, and for those considering buying in the region.
For those interested in taking advantage of the growing opportunities in Florida, Brookes and Co are set to launch a new Florida project to UK investors very soon, enabling them too to benefit from the Orlando International Airport expansion.
For more information about buying in Florida and the new investment opportunities soon to be launched, contact Brookes & Co on +44 1621 875 925, email firstname.lastname@example.org or visit www.brookesandco.co.uk