Abu Dhabi and Dubai are set for even more theme parks,
senior property developers in the emirates have revealed.
Yas Island, home to the Formula One Etihad Airways Abu
Dhabi Grand Prix since 2009, currently has two theme park – Ferrari World and
Yas Waterworld – but is planning at least two more.
“We are always in talks for a third and fourth theme
park,” Mohammed Al Mubarak, CEO of Aldar Properties, the developer of Yas Island,
told Arabian Business in an interview.
“The vision is to have four — two right now and two in
the pipeline. For sure one will come before 2020,” he added.
Initial work has already begun on a Warner Bros theme
park on Yas Island, it was confirmed this summer. Warner Bros Entertainment
signed a deal in 2007 with Aldar and the Abu Dhabi Media Company to bring
Warner Bros-themed projects to the Middle East. The partnership intends to build
a theme park with 19 different rides, a hotel and jointly-owned multiplex
cinemas, and to form a joint venture fund to finance films and publish video
games.
Ferrari World and Yas Waterworld are both set to be
expanded in the near future and the Warner Bros park is due for completion in
2018. However, it is not yet known what the theme of the fourth park will be.
Dubai Parks & Resorts announced earlier this year
it has completed almost 50 percent of the infrastructure required for its
$2.9 billion theme park complex in Jebel Ali. As part of its first quarter results
for 2015, the company said it is “on track” to launch the project in October
2016. The project comprises three theme parks with branded
rides and attractions — the Hollywood-themed motiongate Dubai, Bollywood Parks
Dubai, and Legoland Dubai, as well as Riverpark — a grand entrance plaza with
cafes, restaurants and shops — and Lapita, a Polynesian-themed family hotel
operated by Marriott International.
At the same time, IMG Worlds of Adventure, which will
contain themed rides based around the Cartoon Network, Marvel and Lost Valley Dinosaur
Adventure is also due to open next year.
However, the emirate could be set for even more theme
parks, according to the new group CEO of master developer Dubai Properties
Group.
“Dubailand is becoming the new Dubai. We still have
the focus on building the theme parks and it is still in the plans. We have a specific
team working on that,” Abdullatif AlMulla said in a recent interview with
Arabian Business.
When the Dubailand project was announced in 2003 it
was planned it would be twice the size of the Walt Disney’s theme parks in
the US. Several partnerships were announced, such as Six Flags Dubailand, DreamWorks
Studio Theme Park, Universal Studios Dubailand and F1-X Theme Park Dubai.
However, many of these were put on hold in the wake of the global financial
crisis in 2007/2008 or where moved to other projects within the emirate.
The development of theme parks is expected to be a lucrative
new revenue stream for the UAE. The Yas theme parks, together with those being
built by Dubai Parks & Resorts in Jebel Ali and existing infrastructure
elsewhere in Dubai could bring in $837 million of revenues to the country in
2019, a 78 percent increase on what’s expected this year, according to research
released by Euromonitor last month.
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