Universal Studios Dubailand. Other projects included Busch Entertainment (Worlds of Discovery), Freej theme park and the F1 theme park. “The media gave extensive coverage and saw significant ad spend on the announcing of the
projects which were backed by prominent real estate development groups. In more recent times, there is no media coverage and the only media coverage is that the opening schedules have been deferred and the developers have chosen to withhold their comments. “The year 2009 saw the opening of two projects, the SEGA Republic, an indoor amusement
park in the Dubai Mall, and Stargate, a family edutainment centre, spreading across 260,000 sq ft, located inside the 52-hectare Zabeel Park. “Projects have apparently been put on hold. There are reports of a dilution of holdings, but
no formal announcement of any project being called off permanently, even in cases where mega global brands behind a particular project have reported financial crisis. The only thing certain is the uncertainty of the future of these projects. Projects in Abu Dhabi are in progress and our project in Ras Al Khaimah is scheduled for opening in April 2010. “But despite the financial situation, the theme park industry can expect support from the tourist market which has reported a growth.”
Michel Koborsi, Gondolania, Qatar
“Dubai’s strategic planning and long term goals are predicated on the premise of being the very best there is to offer on a global scale and not just within the region. Its market audience is not just the GCC, subcontinent and neighbouring others; it includes Europe, the North Americas and anyone else who listens and wants what Dubai has to offer. The infrastructure Dubai has and is planning for is to cater to this vast influx of global tourism and trade. Keeping this in mind and its long term objectives, I am very positive that Dubai will achieve success in completing most, if not all, of its proposed projects. Yes, there is a crisis as is obvious and exaggerated at times and the hurdles are plenty, but I am sure the faith and determination is more now than there was before the economic slow down. And that’s all it is, an ‘economic slow down’ that has postponed everything related to credit and finance, be it as an individual, a corporate and/or a country. There has been a slow down, not a depression, and although projects have stopped given the global scenario, it will happen and be complete as soon as restructured alternatives and time frames are put in place and executed. And does he think any projects have been permanently killed off? “It’s hard to have intel as
to how many projects were and/or are planned for Dubai, let alone have information as to how many will never materialise. My guess is that it is all relative to the global economics and based on short term/long terms goals new time frames will be established, planning and deliverables restructured/reorganised. Permanently killed off? I don’t think so unless the whole world/region sinks into depression, then yes. “Dubai has always been and is to some extent even now the most desired tourist destination
within the region. There has been a recession and most of it has impacted Dubai with a percentage of its expat workforce forced to abandon ship, but then again it is that percentage that has left that will not be part of the existing market segment/audience for Dubai. There is still a major workforce employed within the country which still reaps its salaries and benefits and to that end spends in parallel with their habitual lifestyles. Tourists still do and will visit Dubai from the region and globally too.”
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