Dubai Parks and Resorts records U$ 1 bn cumulative project expenditure at end of June 2015

Posted on 13th August 2015

Dubai Parks and Resorts remains on track for October 2016 launch with $1.03 billion (AED3.8bn) cumulative project expenditure recorded at the end of June 2015.

Raed Al Nuami, CEO, Dubai Parks and Resorts, said, “In a little over 12 months, we will deliver a world-class attraction for residents and tourists in the United Arab Emirates. We continue to track well against our plans and it is pleasing to see the project coming to life a little more each day as we come closer to realising our vision."

He added, “Our project infrastructure is 57% complete as at the end of second quarter, up from 43% in the first quarter, ride engineering and manufacturing is progressing as planned with 52% complete and 80% of our procurement has been completed.”

Dubai Parks and Resorts signed two significant partnerships in the second quarter of 2015.

“In April, we announced our first revenue generating deal with Picsolve International to create one of the world’s largest photography integrations which is expected to generate over $27.2 million (AED100m) over a five year period," Nuami said in a bourse filing, according to constructionweekonline news report.

DPR also signed a Memorandum of Understanding with dnata to be the preferred travel partner, as it will connect the theme park with dnata’s extensive travel portfolio to promote the sale and distribution of tickets and visitor packages to customers across the global.

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