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29 March 2024

Dubai Parks and Resorts to change name to ‘dXb Entertainments’

Published
By Vicky Kapur

Dubai-based theme park developer Dubai Parks and Resorts (DPR) has announced that it is proposing to change its name to dXb Entertainments PJSC.

In a statement, the firm said that its board of directors has agreed to add the proposed amendment motion to the agenda for the company’s general assembly scheduled for June 23, 2016. This follows yesterday’s board of directors meeting, and is in addition to the election and appointment of Indian businessman Shravan Shroff as an independent additional member to the board of directors.

The firm explained that dXb Entertainments is the proposed name for the corporate entity while Dubai Parks and Resorts will continue to be the name of the region’s largest integrated theme park destination, featuring motiongate Dubai, Bollywood Parks Dubai and Legoland Dubai and Legoland Water Park, opening in October this year.

“Together with 41 of the best-known names in construction and more than 13,500 workers on site, construction is progressing rapidly to achieve The One Thing goal: to open on time and on budget,” Raed Kajoor Al Nuaimi, CEO, DPR, had said in April this year.

Last month, DPR successfully raised Dh1.68 billion from a Rights Issue to primarily finance the development of the Six Flags Dubai theme park.

“The addition of Six Flags Dubai will enhance our already extensive offering and further establish our position as the Middle East’s largest leisure and entertainment destination. We thank our shareholders for being a part of our growth, and we are very excited to begin the next phase of our strategy,” Al Nuaimi had then said.

The new shares have been listed on the Dubai Financial Market following approval from the Securities and Commodities Authority since June 6, 2016.