Plans to build a Formula 1 theme park in Dubai have been suspended due to the financial crisis currently affecting the world.<\/p>\n
The F1-X park construction project was inaugurated in Dubai in 2005. The real estate company then said it would dedicate $360 million (nearly 284 million euros) to the project. It was scheduled to open to the public at the end of the year.<\/p>\n
However, due to a lack of bank liquidity and the poor health of financial institutions, the plan was suspended.<\/p>\n
According to the company that issued a statement, the park could open around 2010.<\/p>\n
\u00ab The project is based on a solid business model that withstands recession while allowing for the future growth of Dubai, \u00bb said Penny Fischer, marketing director of the F1-X park.<\/p>\n
\u00ab To date, 50% of the work has been completed, the international expertise on the ground and the operational plans are nearly finished. We also believe that a financial partner could come forward in the coming days or weeks to provide some liquidity. \u00bb<\/p>\n","protected":false},"excerpt":{"rendered":"
Plans to build a Formula 1 theme park in Dubai have been suspended due to the financial crisis currently affecting the world. The F1-X park construction project was inaugurated in Dubai in 2005. The real estate company then said it would dedicate $360 million (nearly 284 million euros) to the project. It was scheduled to […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[74],"class_list":["post-25095","post","type-post","status-publish","format-standard","hentry","category-f1","category-news","tag-autre"],"acf":[],"yoast_head":"\n