The concession agreement has been restructured for the Madinah airport concession in Saudi Arabia. International Finance Corporations (IFC) was the original Lead Transaction Advisor for the PPP project to develop and maintain the Prince Mohammed Bin Abdulaziz International Airport in Madinah for Saudi's General Authority of Civil Aviation (GACA).

The concession was awarded in 2011 to a consortium led by Al Rajhi Holdings Group. However, the passenger numbers dropped from 8 to 2 million a year due to the COVID-19 pandemic. The consortium could not meet its obligations, and the authority has decided to preserve the concession. This will allow the continued provision of services and expansion at the airport.