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Dubai's F1 theme park delayed

 
5 6,025 views Feb 27, 2009
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Its organizers claim the theme park will now be opened in early 2010

Its organizers claim the theme park will now be opened in early 2010

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In late 2007 one of Dubai’s leading property investment developers won the exclusive rights to build several F1 inspired theme parks around the globe, the first of which was expected to open its doors in Dubai around the middle of the year. The company behind the project is Dubai’s Union Properties, but even in this land of opportunity the global economic crisis has taken its toll.

The opening of the theme park has now been delayed until at least next year as a result of the global economic slowdown, reports The National. Union Properties is currently looking for a new investor to fund the completion of the $460 million project after a lack of finance from banks and other financial institutions caused it to suspend construction.

The company insists the project is about halfway through construction and will eventually be completed, just not on the originally planned date.

Previous concept sketches of the proposed theme park revealed a roller coaster and go-kart style tracks in addition to numerous retail sites and most likely a hotel. Of course, there’s also the mandatory racing circuit.

This latest news comes just days after organizers of the rival Ferrari World theme park in Abu Dhabi announced that their project had also been delayed.



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Comments (5)

  1. By alec Posted: 4/17/2008 12:43pm PDT

    hi i really like the idea of he roller coaster that u guys are bulidin
     
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  2. ma_mburleigh8 avatar mburleigh8 Posted: 2/27/2009 8:59am PST

    Crazy and cool, It seems like the whole theme of Dubai is go big or go home. It is crazy how fast everything is developing over there.
     
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  3. ma_www.mywheelsonwalls.com avatar www.mywheelsonwalls.com Posted: 2/27/2009 9:06am PST

    Considering that the whole of Dubai's growth is being paid for on credit, this comes as no surprise. I would suspect this is only the tip of the iceburg.
     
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  4. ma_samuelesm avatar samuelesm Posted: 2/27/2009 6:42pm PST

    OMG!!!! I really want to go to Duabie now, but next year. :DODODODO
     
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  5. By  Secret Lewis Fan Posted: 8/13/2010 4:20am PDT

    Check out Reebok’s “Lewis Hamilton: Secret Life” at www.secretlewis.com/arabia and participate in his
    next challenge to WIN amazing prizes!
     
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