TÍTULO

The future of Yas Island - Ferrari World theme park

Is a venture between Ferrari and Aldar Properties, which causes beneficiary results to Government and people of Emirates. Yet it is a project between Ferrari and Alder properties. The Ferrari World, being branded by iconic carmaker, is a 200,000 square metre magnet for tourists across the globe. As of date, it stands as the largest theme park of the world and it contains about twenty rides, which includes the world\'s fastest roller coasters, the first dueling roller coaster of the region and a sensational 4-D sensational phenomenon called \'Speed of Magic\'. These all point towards the unique experience this place provides resulting in mutual benefits for all those who are involved with it.

Abu Dhabi has a population of about 1 million people and 8 percent of the world\'s oil reserves making it one of the largest wealth funds. Still it is putting money into the field of developing the Ferrari theme park to develop tourist attractions and manufacturing to break away from its sole dependence on crude oil exports for earning. Hence, Ferrari World is one of many spots of tourism attractions lined up by Abu Dhabi, to entice tourists with entertainment, culture and art. It is being estimated that by year 2017.

Abu Dhabi\'s non-oil businesses will be contributing up to 50 percent in its gross domestic product giving an additional about $167 billion a year, as projected in its 2030 plan. It involves spending $500 billion on infrastructure and development. It is the capital and largest member of the United Arab Emirates. It is aiming to build as many as 60 new hotels by 2018 and targeting tourist strength of around 3 million tourists a year.

Considering this attempt and aim, Abu Dhabi Airports, opened the 1 billion-dirham ($272 million) Terminal 3 last year, in order to boost the airport\'s capacity to accommodate more than 12 million passengers a year. Towards the end of the year 2008, Ferrari and Aldar Properties were reported to have signed an agreement in order to build the first official Ferrari theme park in Middle East, situated at Abu Dhabi. According to initial planning and designing of Ferrari theme park was supposed to open on 28th October, 2011, but due to unavoidable circumstances and delays, it finally opened on 4th November,2012.

Its construction work started in November 2010 and its construction was completed in time duration of less than two years. In the middle of the year 2012, announcement was made that Ferrari World would be made open to public on October 28, 2012. The opening of Ferrari world was further delayed by a week due to the demise of Ras al-Khaimah a day prior to the opening. Ferrari World, the world\'s biggest theme park, was officially made open to the public on 4th of November 2012.

Ferrari world greatly encourages the improvement of tourism and economic for Emirates, hence it had support from the Government. It also leads to flourishing several other industries and provides more employment to the people. These industries include hotels and hotel management, retails, restaurants, transports, etc. Hence, it can be seen that Ferrari world was a welcomed venture by all. Ferrari world was opened for public use on 4th November 2012. The fantastic Ferrari world is put up under a huge triangular red roof build on the $ 40 billion dollars Yan Marina Island Development properties.

The Ferrari world is expected to draw large multitudes, especially from the neighbouring countries, which have a population, which is interested in racing. Ferrari world is being seen as an interest stimulator among the tourists around the globe and is viewed as an ultimate destination for people passionate about racing. This could promote the tourisms in Abu Dhabi. \"Ferrari World is a good thing for Abu Dhabi\'s tourism offering in because as there is not much at all\".

A year later from conducting its first formula one racing, this can be seen as another attempt to increase tourism in Abu Dhabi. These endeavours can viewed as attempt to attract the speed loving masses that are passionate about racing from round the globe, especially those from neighbouring nations. About 10,000 people were expected to descend what Ferrari says as the only officially declared theme park of the region.

Ferrari world at any given day can accommodate an estimate of 20,000 people, stating on the basis of the availability of the space in the theme park. But such great number is not expected to be seen on the normal day to day basis, except may be on summer holidays and festivals seasons like Eid, etc. hence we can see that government and the tourism is expected to experience an increase in profitability and economic improvements. Although it may be speculated that considering the recession period hitting world economy, it might not be a good time to start the theme park.

But administration of Ferrari is confident in its success saying its beneficial time for opening of theme park as world economy is recovering. The future of Yas Island: Ikea: 32,000 square meters of furniture store was built in Marina Mall. Water Park; Southern Marina; Marina 900 berths to the 143 already available in Yas Marina; Yas Mall, four storeys with 500 stores, and the largest go free in the world; Warner Bros Theme Park; Yas Yacht Club and Garden Crescent. The main infrastructure works, Ferrari World, Formula 1 racetrack, the hotel and the Southern Marina are completed. Aldar Properties PJSC - drafted all projects, made all management for the Abu Dhabi government and sold the project for about $ 10 billion.