Osus to invest $55m in new park project
18 Sep 2005Osus, a new development company, is investing Dh200 million ($55 million) in a new theme park project, Stargate, located at Zabeel Park, said a top official.
Stargate is a hi-tech mid-size and mixed-use themed family entertainment centre. Once completed, the project's terrace and five domes will be visible to the park's visitors, as the main body pf the 'spaceship' will lie underground, said a report in the Gulf News.
Zabeel Park, which covers 52 hectares, is being master-planned and developed by Dubai Municipality, which last year awarded the construction contract to Dubai-based contractors Engineering Contracting Company (ECC).
International Project Development Co (IPDC), an investment company incorporated in Dubai Media City, is managing the project. Mike Hakim, executive director, said: "Some of the infrastructure works have already started on site. This is a new development, themed around space and spacecraft for the children's entertainment."
"As a Dubai Municipality park, there will be a nominal entrance fee, while we will be charging for each ride in the park," he said. Dubai Municipality has already built the basic infrastructure within the park, gates, parking space, a pedestrian flyover to commute between the two components of the park separated by a highway close to the Dubai World Trade Centre, the report added.
Talal Abu-Ghazaleh & Co. has carried out the feasibility study and Ernest and Young is the project's financial advisor. Kling Consult have been appointed the main consultant while KCC is expected to carry out interior designs
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