News Flash

Urart to operate duty free retail at Antalya

14 Sep '07

2 min read

The Nuance Group is pleased to announce that its Turkish joint venture will start operating under the new 17-year contract for the exclusive operation of duty free shops at all Antalya airports as of midnight tonight. The contract's sales value over its total 17 year duration is estimated at € 3.2 billion.

The contract between the Nuance joint venture (Urart A.S.) and the airport's new operators, a consortium between Fraport and IC holding, is taking effect on September 14, 2007, at 00.00 o'clock and gives Urart the right to operate duty free retail at all of Antalya's terminals until 2024.

In the initial phase of the contract's duration, the Nuance joint venture will operate the duty free business in Terminal 1 as well as the CIP International Terminal. The operations in Terminal 2 will be added to the portfolio as of September 24, 2009.

Urart A.S., a joint venture between The Nuance Group (55 per cent) and Net Holding A.S. (45 per cent), has managed the duty free concession at Antalya's Terminal 1 since 1998 and currently operates the main departure and arrival duty free shops as well as 16 specialty shops on a total of 1'850 sqm, employing some 300 staff.

Welcoming 14.8 million passengers in 2006, Antalya Airport is the most important tourist gateway to the Turkish Riviera. Since the commencement of Fraport's BOT Project (Build, Operate, Transfer) at Antalya in 1998, passenger traffic has soared by 130 percent – or more than 12 percent per year.

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