Dubai Parks and Resorts on track for October 2016 launch

May 10, 2015 | By RetailME Bureau

Dubai Parks and Resorts, a unit of Meraas Holdings, is on track for October 2016 launch. During the first quarter of 2015 it has signed some major deals including world’s first-ever Hunger Games themed attraction and unveiling of the Legoland Water Park.

“It is clear there is an untapped market with no existing multi-themed park destination on offer in the Middle East. Dubai is not only attracting a growing population but is expected to attract 20 million visitors per year by 2020. We are pleased with the progress since we unveiled the blueprint of the project and have an equally busy year ahead as we come closer to the realisation of our vision,” shares Raed Al Nuami, CEO, Dubai Parks and Resorts.

“We have made considerable progress in the first three months of the year as we build the Middle East’s first premier year-round leisure and entertainment destination. Our cumulative project expenditure was AED 3 billion as at the end of first quarter.”

“We are tracking well against our plans and the high level of activity is testament to the dedication to deliver a world-class multi-themed leisure and entertainment destination to support Dubai’s continued growth as a global tourist destination. Our project infrastructure is 42% complete as at the end of first quarter, ride engineering and manufacturing is progressing as planned with 40% completed and our procurement is 67% completed,” he reveals.

Al Nuami continues, “Our partnership with Lionsgate will bring the world’s first-ever Hunger Games theme park attraction as well as a Step Up inspired live stage show to motiongate™ Dubai. This is important as it attracts a teen/youth demographic in addition to the younger demographic targeted by our Legoland Dubai theme park and the holistic family offerings at Bollywood Parks Dubai and other zones of motiongate™ Dubai.” “Our partnership with Wizcraft International will bring world-class Bollywood entertainment to the first Broadway-style theatre of its kind in the region at the Rajmahal Theatre in Bollywood Parks Dubai.”

“Post Q1 2015, we announced an exclusive deal with Picsolve International to create one of the world’s largest photography integrations and allow guests to enjoy a seamless photo record of their visit. This is our first revenue-producing agreement and is expected to generate over AED 20 million annually over a five year period,” he elaborates. “In addition, we recently announced the Legoland Water Park, bringing the number of components of Dubai Parks and Resorts to six with over 100 rides and attractions in total.”

“Our projected revenue in the first full year of operation is estimated at AED 2.4 billion with over 5,000 jobs generated across the sector. Our first quarter 2015 financial results are in line with our plans. Our total assets stood at AED 6.9 billion as at the end of first quarter.  The cumulative project expenditure including land acquired amounted to AED 3 billion, an increase from AED 2.6 billion. There were no operating revenues and the loss was AED 13 million during the first quarter 2015.  The first revenues are expected towards the end of 2016 following the opening of the parks to the public,” Al Nuami concludes.



Previous Article Next Article


Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Download Images RetailME Magazine