Melbourne Airport’s third runway has been approved. Picture: Melbourne Airport
Investment asset manager IFM Investors have welcomed an Australian Government decision to clear Melbourne Airport’s third runway for take-off.
Federal Minister for Infrastructure, Transport and Regional Development and Local Government Catherine King recently approved the major development plan for the airport.
Melbourne Airport, an IFM portfolio company, contributes more than 146,000 jobs in Victoria and A$17.7 billion in Gross Value Added to the state economy, according to airport figures
IFM Investors Global Head of Asset Management Danny Elia says the decision is inevitable because “Melbourne is growing and it is crucial that Melbourne Airport grows with it”.
“This decision will mean that the airport can support thousands of Victorian jobs, boost the local economy and get more Australians where they need to go,” he says.
“As an infrastructure asset manager that invests, protects and grows the retirement savings of working people we’re proud that the third runway will help boost worker’s retirement savings, as well as jobs in Melbourne’s north-west.”
“We welcome the decision to approve the third runway and look forward to continuing to work closely with Melbourne Airport, the Federal Government and the local community as we get on and deliver it.”
The project is expected to cater for Melbourne’s growing travel and freight needs, provide an economic boost to Melbourne’s north-west and the city’s visitor economy with passenger numbers forecast to grow to 76 million per year by 2042.
The project will secure approximately 51,000 jobs and add almost A$6 billion to the Victorian economy every year.
Melbourne Airport will establish a comprehensive brownfields noise attenuation program for residential dwellings, childcare and education facilities more affected by aircraft noise, working closely with communities, stakeholders and all levels of government.
ABOUT IFM
IFM Investors was established more than 30 years ago to invest, protect and grow the long-term retirement savings of working people.
Owned by a group of Australian industry super funds, IFM Investors has about A$218 billion funds under management as at June 30, 2024.
IFM operates from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, Milan, Warsaw, New York, Houston, Hong Kong, Seoul and Tokyo, and manages investments across infrastructure, debt, listed equities and private equity assets.
