Some good news

October 27th, 2010 by Stephen Jones Leave a reply »

After a year if depressing economic news, natural disasters etc it makes w elcome change to have soemthing fun to report. Ferrari World, the largest indoor theme park on the planet,is about to  open on Yas Island and welcome in its Middle East tifosi [Italy's term for its famed Ferrari supporters].   It will house the 210km/h-plus Formula Rossa F1-inspired ride, the world’s fastest roller coasterwith another 19 rides and additional attractions themed around the Italian race team and sportscar maker. This will undoubtedly be a boost for regional tourism to the benefit, of airlines, hotels and shopping malls.

Another piece of welcome news for Dubai is that State-owned Dubai World has secured support from all its creditors for a $25bn debt restructuring plan. Dubai World can now avoid having to go through the special tribunal set up to hear creditor claims, and the rest fo Dubai business can get on with life with alot more confidence.

Nakheel is also restarting some proejcts including 8 new shopping malls. “That is going to be very positive for the market… These projects aren’t going to be ghost towns but are going to be completed. We have customers lined up and ready to move into these projects as we complete them,” Chris O’Donnell, Nakheel CEO,

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