Gulf Construction Online - Dubai plans $360m Formula 1 park

UAE Focus

An artist’s impression of the Formula 1 World.

Dubai plans $360m Formula 1 park

01 November 2005

Despite never having hosted a Formula One (F1) race, Dubai is set to host the $360-million F1 World theme park.

To be sited within the MotorCity area of Dubailand, the project follows an agreement with the Formula One Administration (FOA), says Simon Azzam, CEO of developers Union Properties (UP).
“It is an evolving project at the moment,” admits Azzam, adding that the project is still very much at the design stage. Construction sub-contracts are likely to be awarded by mid-2006, following which fast-track work should ready the project by 2008.
Current plans have the park covering five million sq ft (465,000 sq m) and it will host a museum, several team pavilions, F1-themed rides, a library and a cinema as well as a hotel and advanced conference centres with state-of-the-art facilities. Eighty per cent of the development will be covered, with controlled temperature.
An estimated 1.9 million visitors are expected to visit the park in the first year of operation.
“While the park will be good for the motor industry and the motor-related industries, we will do as much as possible to attract the general public from around the region,” he says.
The idea grew out of a Ferrari-themed amusement park, says Azzam. “It just grew bigger and bigger into what will be the ultimate F1 theme park.”