UAE. DXB Entertainments PJSC (DFM: DXBE) and Gulf Islamic Investments (GII) today announced that they have signed a new exclusive agreement to develop and invest in a state-of-the art parking management system for Dubai Parks and Resorts, the region’s largest integrated theme park destination, set to open on 31 October this year.
More than 10,000 parking spaces will be developed by GII across two parking facilities at the theme park destination. The parking facilities will include additional services including VIP and valet parking services, to further enhance the overall visitor experience. In addition, one of the parking areas will be serviced by a tram system that transports guests to Riverland™ Dubai, the gateway to the destination.
The 5 year profit-share agreement will generate revenue through parking tariffs and other related services. Parking fees will range from AED 50-80 for a full day of parking and AED 120-150 for VIP and valet parking services.
Mohammed Alhassan, Co-Founder and Chief Executive Officer of GII (GCC), commented on this partnership saying: “This collaboration with DXB Entertainments is a remarkable opportunity for our investors to be part of the region’s largest multi-themed entertainment destination, and contribute to the city’s Tourism Vision 2020.”
Pankaj Gupta, Co-Founder and Chief Executive Officer of GII (UAE) added: “GII is aligned with Dubai’s long-term tourism strategy, and we are delighted to be part of this iconic development. This collaboration makes perfect strategic and business sense.”
Sandesh Pandhare, Chief Financial & Investment Officer at DXB Entertainments PJSC, the owner of Dubai Parks and Resorts said: “Convenient parking is an essential part of the visitor experience at Dubai Parks and Resorts. The parking facilities that will be developed under this agreement will help ensure a smooth and pleasant experience for our guests as well as generate long-term shareholder value.”
Photo: File photo
DXB Entertainments PJSC
DXB Entertainments PJSC is a Dubai headquartered leisure and entertainment company traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. As of the 31 August 2016 it had a market cap of AED 12.9 billion.
DXB Entertainments was listed on the DFM in December 2014 originally as Dubai Parks and Resorts PJSC. DXB Entertainments owns the Dubai Parks and Resorts destination which consists of 4 theme parks (Six Flags Dubai opening in 2019) and 1 water park all at the same location. The large-scale AED 13.2 billion development is spread across 30.6 million square feet of land with 6.7 million ticketed visits expected in 2017, the first full year of operation.
For more information go to: http://dxbentertainments.com
Dubai Parks and Resorts – owned by DXB Entertainments (PJSC)will become the Middle East’s largest multi-themed leisure and entertainment destination when it opens in October 2016 comprising three separate theme parks: MOTIONGATE™ Dubai, a Hollywood movie inspired theme park concept; LEGOLAND® Dubai, the first LEGOLAND theme park in the Middle East; and Bollywood Parks™ Dubai, a first-of-its-kind family theme park that will showcase rides and attractions based on the authentic Bollywood experience, It will also host the LEGOLAND® Water Park, the region’s first water park catering to families with children aged 2-12. Expected to open in late 2019, Six Flags Dubai will be destination’s fourth theme park and the region’s first Six Flags theme park.
The entire destination will be connected by Riverland™ Dubai – a uniquely themed retail and dining destination at the heart of Dubai Parks and Resorts, and guests can stay at the Lapita™ Hotel, a Polynesian themed family hotel part of the Marriott Autograph Collection.
Located on Sheikh Zayed Road opposite the Palm Jebel Ali in Dubai equidistant to Dubai and Abu Dhabi International Airports the destination offers over 100 rides and attractions.
For more information, go to: http://dubaiparksandresorts.com
About Gulf Islamic Investments
Gulf Islamic Investments LLC (GII) is a UAE-based financial services company regulated by the Emirates Securities and Commodities Authority (ESCA). Gulf Islamic Investments is committed to providing advisory to a diverse set of unique and well-structured investment opportunities to its clients, with a view to achieve superior returns in the fields of real estate, private equity, venture capital and infrastructure.
Under the leadership of a committed group of prominent shareholders and investors, GII’s team enjoys a track record of managing $2.5 billion in assets and securing $5.5 billion in debt and in excess of $1.0 billion in equity and M&A financing.
The origin of GII comes from UNFC, which was established in 2004 and rebranded in May 2014