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.