Dubai F1 themepark reportedly delayed until "at least" next year
Click on the above picture for more images of the F1 themepark
Blaming the global economic slowdown, the builders of the first F1-X theme park in Dubai are saying their project is delayed until at least next year. The park was to become part of the "Dubailand" project that included the Dubai Autodrome, luxury condominiums and a business park (think of it like a Disney World for the Persian Gulf). However, banks and other financial institutions have pulled funding, putting the brakes on the half-built project. Union Properties, the company tasked with this venture, insists the project will eventually be completed... although it will obviously miss its planned opening originally set for later this year.
Gallery: F1-X Theme Park Dubai
[Source: The National]
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Reader Comments (Page 1 of 2)
Sea Urchin 3:38PM (3/01/2009)
It's a shame no one cares about Dubai. This depression will only show who matters, cities and countries like Dubai and saudi arabia will fail and countries and cities that have something behind them will get all the business, USA, Germany, NYC, London will obviously prevail, while Dubai in 5 years will be what Athens became after Olympics, a city with empty building that no one uses or wants.
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danotoriousb 3:50PM (3/01/2009)
Why dont you tell us how you really feel?
the vegas style guy 9:27PM (3/01/2009)
Methinks "The Global Economic Crisis" is becoming a catchword for, "wow we had a truly dumbass bunch of ideas and now we have the perfect excuse to back out of the truly dumbass bunch of ideas we floated not very long ago."
I know that here in The LV it's used for everything from layoffs to why it took so long to get my burger at McDonalds.
I'm jes saying.
Reader 11:29PM (3/01/2009)
Really? Because Dubai has become one of the places I'd like to visit at some point in my life. I don't think Dubai is going anywhere anytime soon.
Michael 4:14PM (3/01/2009)
Well let's not be too ridiculous now right?!
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Jsams4131 4:46PM (3/01/2009)
If you think that Dubai and the SA dont have anyone "behind" them financially,....i'd bet ur dead wrong about. I appreciate that they triying to get a new type of attraction for race fans rolling.
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Sea Urchin 4:55PM (3/01/2009)
J, before the oil boom s. arabia and other countries in the region were a tad above sub Saharan Africa. If we'd stop using oil there would be far less problems coming out of there.
I bet Afghanistan would have been a much happier place if we'd stop using oil simply because Bin Laden most likely would have died from malaria at birth.
Mobius_1 6:06PM (3/01/2009)
Sea Urchin, your view of the world and "solutions" to the world's problems are amazing...
...ly ridiculous. "Hey, if there was really no education in the US and UK and all there wouldn't be bankers who risk too much and then we wouldn't have a credit crisis!"
why not the LS2LS7? 4:56PM (3/01/2009)
Let's face it, Dubai has nothing going for it except for cheap land. And now that companies are moving out of facilities instead of into them, that isn't seem as much of an advantage. In this way, it's very much like Las Vegas. Both are going to suffer significantly before things get any better.
I guess even beyond the cheap land thing, any city that has transformed itself during this boom time will have problems since they really haven't seen anything but boom in their current state.
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the vegas style guy 9:29PM (3/01/2009)
You are right. Hopefully, all of this crap will force our city fathers here in Vegas to realize that "real" cities are more than "one note Sambas" and finally diversify.
Mobius_1 6:08PM (3/01/2009)
I'm just hoping that Max and Bernie don't screw up F1 totally by the time this is built.
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Hamhock 6:09PM (3/01/2009)
This project will only be put off until oil is above $110 a barrel again. SO which will happen first, this place gets built or the 2007 Camaro hits the streets?
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Treadstone 6:22PM (3/01/2009)
Sea Urchin,
I never like to attack ppl, but you’re obviously clueless about the Middle East and you should probably not speak when you know nothing about the Middle East, bc if you did, then you would know the Middle East is the least affected by this whole global mess. This F1 themepark is backed by developers from outside the region, so it has nothing to do with the Middle East not having any money. Also, the banks operate under different rule, i.e. Sharia Compliant (Kuwait is a different story).
Plus your uneducated comment about Bin Laden and Malaria are ridiculous.
Please, before you open your mouth, please know what you’re talking about so ppl like me don’t have to correct fools like you.
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why not the LS2LS7? 8:28PM (3/01/2009)
You're right on some points and wrong on others.
And I completely disagree that canceling this has nothing to do with the areas of the Middle East being a lot less monied than before. It has nearly everything to do with that.
Could this still be built? Sure, I'm guessing someone could find the money to do it. But when Dubai isn't growing like it was, and when the locals are watching their money a lot more than before, it doesn't matter whether the financial backing could be found or where it could be found, it doesn't make financial sense to build this, because how is the attraction going to make enough money to pay back the investment?
The idea that the Middle East is the least affected doesn't really jibe for me. But that's really a matter of opinion, it's difficult to get hard numbers about any area right now, especially ones which already held their cars close to the vest like some of these middle eastern countries. Russia and Venezuela are showing serious signs of difficulty with the new petroleum prices, there's no reason to think the Middle East wouldn't see changes too.
Ahmed 7:29PM (3/01/2009)
It's Arabian gulf, not Persian gulf!!!
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Sea Urchin 8:29PM (3/01/2009)
Sure it is. Arab civilization did not even exist when people started referring to it PERSIAN.
MoeJoe 8:12PM (3/01/2009)
Good, North America should always be the envy of the world, not this place.
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none 9:01PM (3/01/2009)
why not the LS2LS7?,
I am from the US and I work in the Dubai Development and Investment Authority (half the time in the US and half the time in Dubai). The Middle East will feel in a small impact with what’s going on in the US and Europe, but nothing like what’s going on in the US/Europe. The banking system works differently here as I stated in my first comment, and therefore won’t be directly affected like the banks in US/Europe. Regardless, it sucks what’s going on around the world, but Dubai will be just fine, it’s not like their banks are collapsing.
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Joe Black 9:04PM (3/01/2009)
The whole place is ripe for revolution...good or evil...if they can blow-up a thousand year old Buddha...just 'cause, think of the Dubai being leveled. And either way, it will all be flooded due to global warming, "the world" is only 10 feet above sea level.
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Neil 12:52AM (3/02/2009)
Dubai /= Taliban Afghanistan.
True story.