Yas Island is a fast-developing retail, leisure and entertainment destination in Abu Dhabi and is the host venue for the inaugural Formula One Etihad Airways Abu Dhabi Grand Prix to be held on Sunday.

Part of a joint project between Italian automotive manufacturer Ferrari and Abu Dhabi’s leading property developer ALDAR Properties Ferrari World Abu Dhabi will host over 20 state-of-the-art attractions, including the world’s fastest rollercoaster, travelling at speeds exceeding 200 km/h and emulating the thrilling sensation of being in a Ferrari One car.

Addressing a joint Press conference here on Thursday Mohammed Al Mubarak, Chief Commercial Officer, Aldar Properties Piero Ferrari, Vice- Chairman, Ferrari Spa, said the project was on track and the recession had not impact on its execution.

They said the iconic sleek red roof of the theme park had been directly inspired by the classic double curve side profile of the Ferrari GT body and covers a surface area of 200,000 square. The roof features the world’s largest Scuderia Ferrari “prancing horse” emblem, which will measure 66m in diameter and can be viewed even from the aircraft. In all 35,000 tonnes cubic meter of concrete, 12,370 tonnes of steel, 29,000 square meter of facade glazing and 165,000 square meter of roof cladding were used to create the park’s superstructure which was completed in 14 months. Over 4,500 workers have been involved in this major construction project on a daily basis.

Each of the rides and attractions on the Ferrari World has been designed to bring to life a different part of the Ferrari story. This also includes the G-force experience that takes passengers on an adrenaline-pumping ride up over 62 m through the roof and back down again, as well as an ‘aerial voyage over Italy,’ following a Ferrari, Mr Mohammed said. Ferrari World Abu Dhabi will be an intense multi-sensory experience and a must-visit venue for enthusiasts, fans and families. It will feature multi-format high tech theatres, a variety of sophisticated driving schools (for both children and adults), Ferrari automotive displays and participatory learning centres. The unique experiences offered at Ferrari World Abu Dhabi will be complemented by a wide variety of Italian delicacies and unique shopping experiences.

The advanced and sophisticated circuit located at the heart of the park will be the driving courses of the ensuing first Abu Dhabi F One Grand Prix.

A joint venture management construction company owned by Aldar and Besix, the largest Belgian construction group, is responsible for the management of the project, whilst UK firm Benoy is the architect and lead consultant. Ferrari World Abu Dhabi will be operated by Farah Leisure Park Management LLC (Farah), a joint venture between Aldar and ProFun Management Group. Mohammed is also the Chairman of Farah Leisure Park Management LLC.

Ferrari Residences

Mohammed also disclosed that Aldar is in talks with Ferrari to explore the possibilities of launching Ferrari branded residential and commercial complexes under the Ferrari brand in Abu Dhabi. “The talks are in final stages and I cannot disclose the details at this stage. But these deals form part of the continued expansion of the ties between Aldar and Ferrari.”

Piero Ferrari said currently Fiat holds 85 per cent of the Ferrari shares while the Ferrari family keeps ten per cent. Abu Dhabi’s Mubalada Development Company holds the remaining five per cent of the shares. “There is no proposal at present to enhance the stake of Mubadala in Ferrari,” he said in reply to a question.  He also clarified that Ferrari has not made any investments in Ferrari World Abu Dhabi. “We only provide technology and our brand name.  The investment is being mobilised by Aldar. There is no revenue sharing arrangement, and Aldar needs to pay only the royalty for using our brand.” Mohammed said the investments made so far in the Ferrari World Abu Dhabi project. “We are computing the cost and we will release it when we finalise it.”

       ramavarman@khaleejtimes.ae