IKAC plans $4 billion in new projects amid push for investment

TEHRAN – Imam Khomeini Airport City (IKAC) is reviewing investment projects worth 2.0 quadrillion rials (approximately $4.0 billion), in addition to 400 trillion rials ($800 million) already under contract, the company’s head said during a visit by members of parliament’s civil affairs commission.

Speaking during a tour of the site by the parliamentary commission, Saeed Chalandari said the airport city’s development has accelerated significantly over the past year, earning praise from lawmakers. The visit included inspections of Phase 2 expansion plans, infrastructure in the free trade zone, and strategic projects such as the health city, knowledge-based firms hub, and aircraft maintenance center.

Chalandari outlined a three-year track record of performance and revenue growth, noting that the company’s income has increased sixfold under guidance from the transport and urban development ministry.

The official added that lawmakers, including Civil Commission Chairman Mohammadreza Rezaei Kouchi, commended the efforts of Transport Minister Mehrdad Sadri and his predecessors for steering the company toward a prominent regional role. Chalandari said that following a recent directive from the minister, steps are underway to expedite implementation of the airport city’s Phase 2.

One of the key proposals raised was allowing free-zone registered vehicles to operate within Tehran—a move Chalandari said could bring transformative benefits to the capital. He also requested allocation of commercial goods quotas from the Supreme Council of Free Zones, a matter lawmakers pledged to pursue.

He called for resolution of unresolved issues concerning land ownership and debts of companies under the transport ministry that currently occupy IKAC territory but remain outside the company’s administrative control.

Lawmakers also requested faster land allocation to investors, and were briefed on the status of the 40 trillion tomans in signed investment contracts. Chalandari highlighted that an additional 200 trillion tomans in projects are now under review.

Given the Leader’s naming of 1404 (March 2025–March 2026) as the year of “Investment for Production,” lawmakers emphasized that these projects must move forward swiftly to turn Imam Khomeini Airport City into a key hub for national economic development.

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