Dubai theme parks to have Metro, rail links

Dubai Parks and Resorts, the upcoming theme park destination in Jebel Ali, is planned to be connected to the Metro and other rail links, according to information disclosed in its prospectus.

“Dubai Parks and Resorts will have excellent local access, with both Metro and rail links being planned to facilitate access to Dubai Parks and Resorts,” the company states in the prospectus.

On Monday, Dubai Parks and Resorts, a unit of Meraas Holdings, opened its Dh2.5 billion initial public offering (IPO) for investors, as it plans to offer 2.5 billion shares or 40 per cent of the issued share capital at Dh1 each, bringing the total market capitalisation to Dh6.3 billion.

The IPO subscription period will run through November 30.

During Cityscape Global, Khalfan Belhoul, Vice- President, Strategy, Dubai Holding, had told Emirates 24|7 that the Dh25-billion Mall of the World, which will house a glass dome theme park, would eventually be connected to the Dubai Metro.

In September, Roads and Transport Authority Chairman Mattar Al Tayer said they were planning to complete the 15-kilometre-long Red Line extension to the Dubai Expo 2020 site by 2019.

Work is already progressing on Etihad Rail network, which will cater to both freight and passengers and span approximately 1,200 kilometres across the country.

Though no official announcement has been made, stations at Al Maktoum International Airport and Dubailand are under consideration.

6.7m visitors expected in 2017

Dubai Parks and Resorts comprises three theme parks: Motiongate, a Hollywood inspired theme park concept based on major DreamWorks Animation and Sony Pictures; Legoland Dubai, the first Legoland theme park in the Middle East; and Bollywood Parks, an entertainment destination that will showcase the authentic Bollywood movie experience.

The project is currently anticipated to be completed before the end of the third quarter of 2016 and the total estimated number of visits in the first full year of operation in 2017 is expected to stand at approximately 6.7 million, according to the prospectus.

Meraas had announced plans for the theme parks, which are being built close to the Dubai Expo 2020 site and Al Maktoum International Airport, in 2012 as part of the government’s plan to double annual visitor numbers to 20 million by 2020.

First mover advantage

According to the prospectus, Dubai Parks has the first mover advantage since the Middle East and North Africa (Mena) region and the Indian subcontinent are relatively underpenetrated in the theme park sector compared to other major global markets.

“We believe that Dubai Parks and Resorts will benefit from an early mover advantage combined with a prime and easily accessible location in the UAE,” the company says.

Ten theme parks in North America, two in Europe and eight in Asia (five in Japan, two in South Korea and one in Hong Kong) were listed as the world world’s top 20 theme and amusement parks by number of visits in 2013 by AECOM Global Theme Park Attendance Report 2013.

“Dubai, the wider Mena region and the Indian subcontinent currently do not have a multi-themed international destination theme park that will offer a similar range of branded attractions to Dubai Parks and Resorts,” the prospectus said.

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