Published On: Tue, Feb 14th, 2017

Curaçao Airport Holding and C-MCC Development Group LLC sign long-term lease

2017-02-13 at 1.19.17 PMWILLEMSTAD – On February 13, 2017, Curaçao Airport Holding (CAH) and C-MCC Development Group LLC signed a long-term lease agreement in which states that C-MCC will get an area of 67 hectares at the airport to develop a Multi-Commodity Center for Curaçao. The signing of the lease contract is the result of the MoU which CAH and C-MCC previously signed in 2016 to develop a large part of the land around the airport.

CAH and C-MCC agreed on February 23, 2016, that C-MCC will develop a safe, well documented and fully controlled tax-free trading zone in which members can trade with each other, known as Curaçao Multi Commodity Center. The Curaçao Multi Commodity Centre will be set up similar to the highly successful Dubai Multi Commodity Centre. It will start with the physical trade in gold and other precious materials, but will eventually also offer other goods, such as oil, gas, spices, steel, salt, coffee, etc. Digital commerce will also be possible.

C-MCC plans fit entirely within the Airport City Master Plan of CAH and can truly be seen as one of the flywheels for further development of the areas around the airport because it attracts many other local and international companies. Also, the development of the Multi Commodity Center Curaçao ensures that other elements of the master plan (like Sea Water Air Conditioning) can be feasible in the short term.

The Minister of Economic Development, Mr. Eugene Rhuggenaath is satisfied with the developments that are taking place around the Curaçao Airport. The Curaçao Multi Commodity Centre fits well with the role Curaçao plays since time immemorial in the areas of trade, transport and logistics. It will also give the necessary boost to initiatives such as the Dutch Caribbean Securities Exchange and Blue Nap. Also, the developments around the Curaçao Multi Commodity Center translate in a significant number of jobs for the local labor market, additional tax revenue for the government and a boost for education. In addition, this new industry generates a lot of international attention, which not only will give a boost to tourism, but also lead to international recognition and fame thus the Minister of Economic Development.

Based on a preliminary assessment, more than USD 900 million will be invested in the project over the next twenty years. According to the business plan, about 11,000 direct jobs will be created by C-MCC and by the companies that settle here. On the basis of available multipliers for Curaçao, the indirect and induced employment is estimated to be 15,000. This means that the potential of the project is enormous for Curaçao.

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