Middle East to get Virgin Space Port

It appears the Middle East will soon get a space-port and satellite-launch facility, after Abu Dhabi-based investor Aabar announced it was buying a third of Virgin Galactic.

Owned by the country's government, Aabar has initiated a USD $280 million deal with Richard Branson's space travel company.

Aabar has previously centred its businesses around petroleum investments but in recent years, it has set its sights on transport firms with a 9 percent stake in Daimler and a share in Tesla motors.

The USD $280 million represents a 32 percent stake in Virgin Galactic which, up until now, has been owned solely by its owner. For a company, that has yet to reveal its 'space fleet' let alone start any flights, that means it has a value of around USD $900 million.

Part of the investment deal means that Aabar has rights to all Virgin Galactic traffic in the region, and as such a new space port will be constructed in Abu Dhabi. The port will also be used for scientific space research and with this in mind, USD $100 million will be invested into a satellite launching capability service utilising Virgin's space fleet to transport them into orbit.

Currently Virgin Galactic is in the final stages of testing its spacecraft such as its White Knight carrier vehicle. These test launches are being conducted at the Mojave Spaceport, where initial passenger flights will talk place. Spaceports are also rumoured to be constructed in New Mexico and Sweden.

It is predicted that the first commercial flight will take place within the next 24 months.

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