The influential Al-Khayyat family, a Syrian-Qatari business giant with extensive global reach and influence, is planning to significantly expand its infrastructure investments in Africa. According to a report by Bloomberg, this massive business conglomerate is currently focusing its primary attention on Ethiopia’s planned $12.5 billion Bishoftu International Airport megaproject, eyeing a major stake in the development.
According to the report, the family’s construction arm, UCC Holding, is actively reviewing and bidding for large-scale transport and infrastructure projects across the African continent. Boyd Merrett, Group Chief Executive Officer of UCC Holding, stated that his institution is actively pursuing Ethiopia’s new international airport project while also closely monitoring a 400-kilometer highway development project in the Democratic Republic of Congo (DRC).
The Al-Khayyat family’s overall investment operations are chiefly led by Mohamed Moataz Al Khayyat and Ramez Al Khayyat, individuals ranked among the few world figures with substantial influence on the global political and economic stage.
The proposed Ethiopian mega-airport for which the Qatari company is bidding is expected to become Africa’s largest aviation hub upon completion. The project aims to accommodate ever-rising passenger demand and reinforce Addis Ababa’s role as a primary regional transit gateway.
Located approximately 40 kilometers southeast of Addis Ababa, the Bishoftu site was selected due to its elevation of 1,910 meters above sea level and its highly favorable aviation climate, making it ideal for intercontinental flights and transit passengers. Phase 1 of the construction, which launched this past January, aims for an initial capacity of 60 million passengers annually.
Covering an area of 35 square kilometers, the airport is projected to handle up to 100 million passengers annually within five years of completion, according to previous statements by Ethiopian Airlines Group Chief Executive Officer Mesfin Tasew.
The Ethiopian government has been engaging with various international institutions to secure funding for this massive undertaking. In March, Ethiopian officials held discussions with the President of the Asian Infrastructure Investment Bank (AIIB) regarding potential financing support. Additionally, high-level discussions focusing on strategic infrastructure cooperation were held with the China Export-Import (Exim) Bank and the Chinese Ambassador to Ethiopia, Chen Hai. According to Mesfin, an unnamed China-based bank has already pledged $500 million toward the project.
However, while construction on this mega-project moves forward, it is facing social grievances alongside its economic promises. Residents of the Abu Sera (Abu Lugna) area, where the airport is being developed, say they are facing mounting hardships after being displaced from their land without receiving fair compensation or replacement housing. Residents who spoke to local media claimed that despite government promises of relocation and financial compensation, they have yet to receive any support. Conversely, the Bishoftu City Administration has denied these allegations, stating it has not received any such complaints from local residents.
