Aldar and Besix enter talks over partnering for Ferrari

09 November 2007

Local real estate developer Aldar Properties is in discussions with Belgium's Besix to form a partnership to build the Ferrari theme park and shopping mall on the AED 147,000 million ($40,000 million) Yas island development in Abu Dhabi.

The details of the agreement are still being finalised, but it is expected to be similar in format to the joint venture of Aldar and the UK's Laing O'Rourke to build the AED 54,000 million ($14,700 million) Al-Raha Beach development.

The shopping mall will take up most of the 300,000 square metres of retail space planned for the island. Ferrari World will be a 250,000 square metre theme park, with 80,000 square metres indoors. It will include museums, a theatre, roller-coasters and a driving school.

Yas island covers 25 square kilometres with 32 kilometres of shoreline. Attractions planned for the island include a water park, hotels, two marinas, polo clubs and residential buildings.

Besix already works with Aldar on several schemes through its local affiliate, Six Construct Abu Dhabi. It is working on an interchange on the Abu Dhabi-Dubai highway and the 10-kilometre-long highway providing access onto Yas island. It is also working on Aldar's Al-Gurm development on the west of Abu Dhabi island (MEED 30.10.07).

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications