Dubai, the world’s first F1 park project was delayed due to completion of the financial crisis

January 24th, 2010 by mysite

Is located in Dubai, the world’s first Formula One (FI) theme park, due to lack of funds, the completion date will be delayed one year to 2010.
The financial crisis has led to booming Dubai, the Middle East, this was originally the city’s many developers are forced to postpone a number of large-scale development projects.
F1 theme park developer Union Industrial Co., Ltd. CEO Azzam 1, said that the estimated cost of 400 million 60 million U.S. dollars to build a theme park to be stopped because the banks are no longer willing to lend money to them.
Azam told The Associated Press by telephone interview, said: “As the financial crisis and the banks lack liquidity, we have no choice but to delay the works until 2010.”
Azzam said that the Dubai Motor City theme park, after three years of construction, the half of the project has been completed, they are ready to be installed in the park recreational facilities.

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