One of the major investor firms in Abu Dhabi, Aldar Properties PJSC, is the owner of the theme park. Construction was overseen by Benoy Architects. The company Jack Rouse Associates took on the design and building of the attractions.
It is also the first Ferrari theme park in the world to be constructed fully indoors. It spans an 86,000m2 surface area that is open to guests.
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Asset Management Miral
Yas Island in Abu Dhabi is being developed and managed by Miral Asset Management, a real estate development, management, and investment firm. Through its wholly owned subsidiary Farah Experiences, the firm also owns and manages Warner Bros. World Abu Dhabi, Ferrari World, Yas Waterworld, and the future SeaWorld Abu Dhabi.
The park will include the highest and fastest roller coaster in all of Europe thanks to a partnership between Ferrari and the Spanish entertainment company PortAventura World.
Ferrari World in Abu Dhabi will benefit from promotion for a Ferrari theme park that will open in Spain the following year.
Yas Island’s developer and asset management business, Miral Asset Management, claimed that Ferrari World’s success served as inspiration for the new theme park in Spain.
CEO of Miral Mohamed Abudullah Al Zaabi stated, “It’s promotion for us.” Although it is considerably less than Ferrari World, it is the outcome of our accomplishment.
The Ferrari Land theme park is being built on 15 acres of land south of Barcelona for EUR100 million (Dh411.9m).
The park will include the highest and fastest roller coaster in all of Europe thanks to a partnership between Ferrari and the Spanish entertainment company PortAventura World.
The 200,000 square meter Ferrari World in Abu Dhabi is home to the Formula Rossa roller coaster, the fastest in the world, which can reach 240 kph in 4.9 seconds, and Flying Aces, which boasts the highest roller coaster loop in the world at 63 meters.
A contract for the design, development, and operation of a new Ferrari theme park in one of the major Chinese cities was signed in March by Beijing Automotive Group Company, Baic Eternaland Property Company, and Property. Ferrari Spa is a fully-owned Italian subsidiary of Ferrari NV. It gave no specifics.
Selling Ferrari World to the government
According to this story, the government will purchase the new Ferrari World theme park from its owners:
Less than three months after it opened, Aldar Properties will sell Ferrari World, its auto-themed amusement park, to the government in an effort to pay off debt.
The amusement park on Yas Island, together with the associated roads, bridges, and marine infrastructure, will be sold by the commercial and residential real estate company for about AED 10.9 billion, coupled with roughly AED 5.5 billion in residential units. According to the announcement that was first made last week, the company will sell an AED 2.8 billion convertible bond to Mubadala Development Company, a state-owned investment firm.
Due to a decline in property values in the UAE capital and elsewhere, the amount of Aldar’s obligations is an increasing concern for creditors and equity investors. The corporation would require about AED 10 billion, according to a study by Bank of America Merrill Lynch, just to “survive” the year.
The largest developer in Abu Dhabi reported a financial loss of AED 731.2 million between July and September, compared to a net profit of AED 270 million during the same period previous year. In comparison to last year’s AED1.4 billion gain, the losses are a portion of the AED1.52 billion loss for the first nine months of 2010. From AED1.412 billion in 2009 to AED932.4 million in 2010, nine-month sales decreased by 45%.
According to a statement to the Abu Dhabi stock exchange, the steps “are focused on addressing current market conditions and on boosting the company’s capital structure.”
“The financial framework approved by the board today, including the convertible bond issue, will strengthen our capital structure and give us a stable and sustainable platform from which we can continue to seize business opportunities to deliver value to shareholders,” said Ahmed Al Sayegh, chairman of Aldar.
Although a crucial step in enabling Aldar to pursue long-term sustainable growth, the impairment recognition “reflects the unfavorable conditions that have afflicted the real estate market.”
The business said that the transaction adhered to the customary practice of transferring important assets to the government after development is complete. The stock of the corporation decreased 3% on Thursday, closing at AED 2.27 per share.
How is Ferrari World run?
Farah Experiences LLC, which was founded in 2008 to offer top-notch entertainment experiences on Yas Island, is in charge of managing and running The Park.
Ferrari World: Is it real?
The only Ferrari-themed amusement park in the world is located almost 2,800 miles away in the dry deserts of the United Arab Emirates, where Ferrari’s renowned supercars are totally produced. The extravagant wealth of Ferrari is on full display at this insane supercar showroom.
The largest indoor theme park in the world, Ferrari World is over 900,000 square feet large and resembles a massive three-pointed star when viewed from above. It has a 215-foot-tall rendition of Ferrari’s signature yellow prancing horse insignia on the curved red roof.
Visitors to the theme park can tour a functioning Ferrari factory, drive a real Ferrari, and peruse a collection of 70 years’ worth of Ferrari models. The “Bell’Italia” ride transports guests in a Ferrari through a scale model of Italy’s wonders, including Venice, the Roman Colosseum, the Amalfi Coast, and, of course, Maranello, the birthplace of Ferrari.
Fittingly, the park is also home to the tallest roller coaster loop in the world and the renowned “Formula Rossa,” a thrill ride with a top speed of 149 mph that breaks the world record for roller coaster speed.
One of the top tourist destinations in the Middle East, Ferrari World intends to expand its theme park to Spain and Orlando in the upcoming years.
Who is the park’s owner, Ferrari?
The brand’s followers can look forward to “an explosive multi-sensory experience” at Ferrari World Abu Dhabi when it debuts the following year.
Ferrari has launched a number of brand extensions in an effort to capitalize on the great passion it receives from its fans.
Ferrari-branded apparel, watches, briefcases, stationery, and model cars are sold at 28 branded stores throughout the world and on a website.
The amusement park’s “sleek red roof” will be designed to resemble the Ferrari GT body’s side profile. The “biggest Ferrari logo ever” will be displayed on its 200,000 square meters of space.
The theme park, according to the automaker, will have more than 20 attractions, including the fastest rollercoaster in the world and kid-friendly rides, “each meant to bring to life a distinct section of the Ferrari story.”
Aldar Properties PJSC, a real estate development business, is the owner of The Park. The park’s administration and management will fall under the purview of Farah Leisure Parks Management L.L.C.
Does Dubai have a Ferrari World?
Love speed? Prepare for the ride of a lifetime only at Ferrari World Abu Dhabi, and then. This is the perfect location for non-stop, hyper-adrenaline, heart-racing pleasure because it is home to the fastest rollercoaster in the world, the highest loop ride, the tallest space frame structure ever created on the planet, and over 40 record-breaking attractions.
Behind the wheel of a Ferrari, feel the rush as you navigate the roads of Yas Island! Put the top down, fasten your seatbelt, and cruise along with one of our Ferrari-trained instructors.
Visitors must display a “green pass” status on the ALHOSN mobile app or provide documentation of having had all required vaccinations and a negative PCR test result within the last 14 days in order to access the Park. Non-immunized visitors can access the Park by presenting a PCR test result that is negative within 48 hours of entrance.
Is Ferrari owned by Abu Dhabi?
Following the acquisition of a 5% share by Mubadala, an Abu Dhabi government investment organization, Ferrari joins a strategic alliance. Maranello, Wednesday, July 27, 2005 – Mubadala Development Company, a major investment firm completely owned by the Government of Abu Dhabi, and Ferrari have announced that Mubadala has acquired a 5% share in Ferrari from Mediobanca.
In the agreement, Mubadala will pay EUR114 million to Mediobanca to acquire 5% of Ferrari, valuing Ferrari at EUR2.28 billion overall. The deal also stipulates an earn out in Mediobanca’s favor in the event that Ferrari’s IPO is successful during the following 24 months at a price that guarantees Mubadala an internal rate of return higher than 10%.
“We at Fiat are pleased to welcome a non-financial institution as a shareholder in Ferrari for the first time. A fresh possibility for our expansion will be the main benefit of expanding our shareholder base beyond conventional financial institutions, according to Luca di Montezemolo, Chairman of Ferrari and Chairman of Fiat (56 percent majority shareholder in the Italian luxury brand). He continued, “We are certain that Mubadala is dedicated to being a very trustworthy, steady shareholder and partner to existing shareholders. “In addition, the strategic partnership with Mubadala and subsequently the Government of Abu Dhabi is expected to lead to the development of attractive and innovative new business plans, particularly for the Middle Eastern and North African markets. Our initial areas of focus will include everything from the design and development of initiatives for testing road and racing cars, together with professional driving schools, to the exploitation of chances related to brand experiences and merchandising.
His Majesty The Chairman of the Abu Dhabi Department of Planning & Economy, Sheikh Hamed bin Zayed Al Nahyan, stated, “This is a good financial and strategic investment on many levels. We have a history of working with renowned international brands and businesses that are industry leaders. Importantly, it also satisfies our own investment goals, which include forging high-profile alliances that will both directly and indirectly advance the Abu Dhabi economy. The Abu Dhabi Government has a proven track record of contributing positively to high-end projects and chosen businesses around the globe through Mubadala. Therefore, we are happy with their collaboration with Ferrari,” Mr. Montezemolo continued. 10% shareholder Piero Ferrari said, “I am familiar with Abu Dhabi. As a result of the chance I got to speak with His Highness and his family, I am pleased to welcome them to the Ferrari family.
Khaldoon Khalifa Al Mubarak, CEO of Mubadala, commented on the partnership and said, “This arrangement further emphasizes our strategy of engaging in beneficial collaborations with leading international firms and brands. The main business goal of Mubadala and Ferrari is to develop long-term, economically viable prospects that fully utilize the potential of the strategic relationship. I am eager to see the potential that is available to us realized,” he continued.
Ferrari World or Motiongate, which is superior?
Ferrari World is a theme park that focuses on conveying a sense of speed and Formula 1 racing. Motion Gate, in contrast, is a theme park with a range of attractions inspired by various movie personalities.
Are Ferrari World and Yas Island the same?
The largest and only Ferrari-branded indoor theme park in the world, Ferrari World in Abu Dhabi is located in the center of a 2,500.000-hectare Yas Island. The island, typical of the UAE, is totally devoted to amusement, recreation, and… Read more
The largest and only Ferrari-branded indoor theme park in the world, Ferrari World in Abu Dhabi is located in the center of a 2,500.000-hectare Yas Island. The island, which is typical of the UAE, is totally devoted to leisure, entertainment, and lifestyle, with Ferrari World serving as its main draw. The park, which debuted in 2010, is said to be a must-see for all Ferrari fans and offers more than 20 rides and attractions that are inspired by the car manufacturer, in addition to a huge selection of Italian cuisine and shopping centers. fewer books
The largest and only Ferrari-branded indoor theme park in the world, Ferrari World in Abu Dhabi is located in the center of a 2,500.000-hectare Yas Island. The island, which is typical of the UAE, is totally devoted to leisure, entertainment, and lifestyle, with Ferrari World serving as its main draw. The park, which debuted in 2010, is said to be a must-see for all Ferrari fans and offers more than 20 rides and attractions that are inspired by the car manufacturer, in addition to a huge selection of Italian cuisine and shopping centers.