Gulf Finance House to invest $1.5 billion in Dubailand

Bahrain-based investment house will put the cash into Arabian theme park.

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By  John Irish Published  April 18, 2004

Gulf Finance House (GFH), the Bahrain-based investment firm is set to put US $1.5 billion into creating a 25 million square feet Arabian theme park within the Dubailand project. The resort, named Arabian Legends Theme Park, will offer visitors a variety of experiences ranging from entertainment to culture. The zones include Tales of the City, Tales of the Desert, Tales of Adventure and Travel and Tales of the Future. “Arabian Legends is one of Dubailand’s most unique projects,” said Mohammed Al Gergawi, chairman of Dubai Development and Investment Authority. “A combination of rich Arabian heritage and modern technology is truly a luxurious blend of cultures,” he added. Al Gergawi hopes GFH’s involvement in Dubailand will also be a catalyst for other regional entities to invest in the $5 billion tourism development. “We are confident that GFH will bring in the expertise and attract the knowledge of strategic investors to Dubailand in the hope of generating lucrative opportunities for the expansion and development of this multibillion dollar project,” explained Al Gergawi. GFH will develop the theme park in conjunction with Edifice, Jean-Michel Ruols Architects and Glen Corporation, all of whom have substantial experience in designing and developing theme parks across the world. “We are committed to our shareholders to invest in real estate assets which promise high returns and we are confident that Dubailand is a sterling opportunity,” said Esam Janahi, CEO of Gulf Finance House.

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