[1] In 2008, the Puntland government signed a multi-million US dollar deal with Dubai's Lootah Group, a regional industrial organization operating in the Middle East and Africa.

According to the agreement, the first phase of the investment is worth Dhs 170m and would see a set of new companies established to build, manage and operate Bosaso's free trade zone and sea and airport facilities.

[1] In 2012, a Product-Sharing Agreement signed between the Puntland government and the Australian oil company Range Resources earmarked $5 million USD for the construction of an airport runway.

The inauguration event was attended by cabinet ministers, legislators, traditional leaders, and various international officials, including tender winner China Civil Engineering Construction Corporation, financial partner and Ambassador of Italy to Somalia Farbizio Marcelli, and United Nations Office for Project Services representatives.

[4] On 8 January 2016, The renovated and modernized Bosaso Airport was officially reopened, the reopening event attended by President of the federal republic of Somalia Hassan Sheikh Mohamud, Puntland president Abdiweli Mohamed Ali federal and regional ministers, Mayor of Bosaso Yasin Mire Mohamud, the constructor CCECC, Italian Ambassador, and other distinguished guests and foreign envoys as well as Traditional elders include Ugas Hassan Ugas Yasin.