Fast track for Yas Island's Ferrari theme park

Rival Sorouh Real Estate also made great play on timely delivery of projects at the recent Cityscape show in Dubai, and has started ground works for The Gate at Shams Abu Dhabi on Reem Island.

The news of the tight construction timetable for the Ferrari F1 race track was confirmed by Aldar chairman Ahmad Ali Al Sayegh at the laying of a foundation stone: 'An incredible amount of real estate growth is taking place in Abu Dhabi, and it is our responsibility to deliver projects of the highest quality, while protecting the natural, social and cultural assets of the Emirate.

'I am confident that the blend between the power and beauty of one of the world's leading brands, Ferrari, with Aldar's expertise in development and regional knowledge, will combine to create a destination that resonates with sports lovers around the world,' he said.

Ferrari prestige

Ferrari President Luca Cordero Di Montezemolo added: 'Ferrari brings its brand, exclusivity, technology, cars, drivers and know-how to the Theme Park. We have a great history. Over the last 60 years, Ferrari has been the most successful car manufacturer, there's an average waiting period of 24 months for those who want to own a Ferrari. We have won more races than anyone.'

Part of a joint project between Italian automotive legend Ferrari and Aldar the 250,000 square metre park will aim to capture the culture, flavour and spirit of Italy as well as the history and heritage of Ferrari cars.

As well as the Formula One track - also available for test driving and driving lessons, the Ferrari theme park will have a championship go-carting track, dune buggy track, rally-cross circuit, a drag racing track and seven hotels in both four-star and five-star categories.

Time theme

During the foundation stone ceremony a special time capsule was buried, containing a conrod and piston of the F2007, the F1 World Champion Ferrari car, together with the first artist's impression of the Ferrari Theme Park on Yas Island. The capsule will be then opened again at Ferrari's 100th anniversary, in 2047.

But a closer date is clearly on everybody's minds. For Abu Dhabi cannot afford to miss the spring 2009 delivery date for this project without huge embarrassment and the cancellation of the first F1 Grand Prix in the UAE capital.

Of course, the successful staging of this event will bring huge prestige to Abu Dhabi and underline the ability of Aldar to deliver projects on time.

See also:
Property buyers face lengthy but profitable wait