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FINANCIAL NEWS
Dubai Theme Parks estimates USD653m revenue
15 Feb 2015
(MENAFN) Dubai projected mega theme park is predicted to produce revenue of about USD653 million in its first year of operations, Arabian Business reported.
According to CEO of Dubai Parks and Resorts, a Meraas Holding company, the gigantic project is set to be launched in October 2016.
CEO comments were concurrent with company’s announcement of a USD5.71 million loss for 2014 and an increased total assets of USD1.87 billion. No operating revenue was registered since the park is not planned to be open until the fourth quarter of 2016.
‘Projected revenue in the first full year of operation is estimated at USD653.2 million with over 5,000 jobs generated across the sector. The first revenues are expected towards the end of 2016 following the opening of the parks to the public,’ CEO added.
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