• Themepark development ramps up in Dubai again

    by  • December 3, 2012 • Dubai

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    Has anyone counted the number of projects announced for Dubai that never came to fruition? In 2009 that over-investment nearly drove the emirate into bankruptcy. The nation state is still paying off billions in debt from that debacle, but it has already announced a huge expansion of its retail project and a brand new $2.7 billion theme park development.

    The theme park complex will be located near the Jebel Ali port area and will eventually be home to five parks.

    While we wish them better luck this time, there are still a lot of hurdles to overcome. The hot climate is a challenge as is the existing debt load and weak European economy.

    Photo credit: Author: Saudi, Source: Flickr.