Regions International
Dec 5, 2008
By: Scott Baltic, Contributing Editor
International theme park operator Six Flags Inc. will be extending its overseas reach with a park in Qatar, according to the terms of an agreement between Six Flags and Oryx Holdings, a diversified Qatar-based holding company.
The 500,000-square-foot Six Flags-branded park will be part of Qatar Entertainment City, a mixed-use development in Lusail, Qatar, and is scheduled to open by mid-2012. Six Flags will provide concept development and planning services to Oryx Holdings for the park’s creation, after which the two companies will collaborate on the park’s design, development, construction and management.
“The partnership will help further establish and push Qatar’s initiatives for family tourism,” Oryx Holdings vice chairman & managing director Assam Shaikh said in a prepared statement. “For the implementation, Qatari resources will be sought in all elements of the project as and when available.”
“Extending the Six Flags footprint beyond Dubai,” Six Flags president & CEO Mark Shapiro said in the same statement, "represents another strategic step in our international expansion….”
Six Flags has 20 parks already in operation in the United States, Mexico and Canada, and recently announced an agreement with Tatweer, a member of Dubai Holding, to develop the first Six Flags theme park in the Middle East, Six Flags Dubailand. That 5 million-square-foot park is scheduled to open in 2011.
Qatar Entertainment City is the first project being implemented under the Entertainment City concept developed by Abu Dhabi Investment House. The project is a fully integrated family entertainment destination comprising 1 million square meters (10.8 million square feet) of development and 180,000 square meters (1.9 million square feet) of leisure/entertainment, retail and restaurants in a waterfront location.
The QEC project will consist of five districts: Down Town, a leisure, retail and entertainment hub; Board Walk, set on the Gulf shore with beach-front restaurants and shopping malls, five-star hotels, and an aquarium; North Shore, with residential and hotel towers and modern apartments adjacent to a water park; South Shore, a waterfront resort-style blend of villas, apartments and beach hotels with retail, leisure and dining amenities; and The Villas, a residential district close to Down Town and a nature reserve. Each of the five districts will be linked by a canal, with water taxis.
The companies under the Oryx Holdings umbrella include PCSI Global, a large general contractor/developer; Atlantic Capital Group, a boutique financial services company with a mission of raising finance for real estate projects; and Qatar Coral, a land developer.
By: Scott Baltic, Contributing Editor
International theme park operator Six Flags Inc. will be extending its overseas reach with a park in Qatar, according to the terms of an agreement between Six Flags and Oryx Holdings, a diversified Qatar-based holding company.
The 500,000-square-foot Six Flags-branded park will be part of Qatar Entertainment City, a mixed-use development in Lusail, Qatar, and is scheduled to open by mid-2012. Six Flags will provide concept development and planning services to Oryx Holdings for the park’s creation, after which the two companies will collaborate on the park’s design, development, construction and management.
“The partnership will help further establish and push Qatar’s initiatives for family tourism,” Oryx Holdings vice chairman & managing director Assam Shaikh said in a prepared statement. “For the implementation, Qatari resources will be sought in all elements of the project as and when available.”
“Extending the Six Flags footprint beyond Dubai,” Six Flags president & CEO Mark Shapiro said in the same statement, "represents another strategic step in our international expansion….”
Six Flags has 20 parks already in operation in the United States, Mexico and Canada, and recently announced an agreement with Tatweer, a member of Dubai Holding, to develop the first Six Flags theme park in the Middle East, Six Flags Dubailand. That 5 million-square-foot park is scheduled to open in 2011.
Qatar Entertainment City is the first project being implemented under the Entertainment City concept developed by Abu Dhabi Investment House. The project is a fully integrated family entertainment destination comprising 1 million square meters (10.8 million square feet) of development and 180,000 square meters (1.9 million square feet) of leisure/entertainment, retail and restaurants in a waterfront location.
The QEC project will consist of five districts: Down Town, a leisure, retail and entertainment hub; Board Walk, set on the Gulf shore with beach-front restaurants and shopping malls, five-star hotels, and an aquarium; North Shore, with residential and hotel towers and modern apartments adjacent to a water park; South Shore, a waterfront resort-style blend of villas, apartments and beach hotels with retail, leisure and dining amenities; and The Villas, a residential district close to Down Town and a nature reserve. Each of the five districts will be linked by a canal, with water taxis.
The companies under the Oryx Holdings umbrella include PCSI Global, a large general contractor/developer; Atlantic Capital Group, a boutique financial services company with a mission of raising finance for real estate projects; and Qatar Coral, a land developer.
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