Abu Dhabi to build Ferrari World theme park

Oil affects everything automotive, but when the guys holding 8% of the world's oil supply begin to look for ways to reduce their dependence on oil, should we be concerned? At least they have the cash to make it fun and not painful.

Yes, a 2,500-acre island belonging to Persian Gulf emirate Abu Dhabi, will host Ferrari World, a "high-tech" theme park featuring simulator rides, roller coasters, an interactive museum anda theatre with an Italian-themed play and a race track, as part of the $40 billion dollar transformation into one of the world's premier luxury tourist destinations.

To the ruling family in Abu Dhabi, al-Nahyan, who owns five percent of Ferrari SpA, building Ferrari World was a natural decision. To support the increase in tourists visiting Yas Island, Abu Dhabi also plans to spend an additional $6.8 billion dollars to expand the Abu Dhabi International Airport, where Etihad Airways, the sheikdom's own airline launched in 2003, calls home.

We can only dream of the chance to visit Yas Island someday. Upon its completion in 2009, might Ferrari use it as the location for future their vehicle launch programs? If so, maybe we'll get invited to come out and play.

[Source: Bloomberg]