Dubai’s Worlds of Adventure wins US$327m financing
by Jason Holland | 14 Apr 2014
Construction work is ongoing at IMG Worlds of Adventure in Dubai
IMG Theme Park, the Dubai company behind the under-construction IMG Worlds of Adventure theme park, has secured AED1.2bn ($327m, £195m, €236m) in financing.
Abu Dhabi Islamic Bank (ADIB) arranged the syndicated Islamic facility, which will be used both to refinance IMG Theme Park’s existing corporate facility and to finance expansion of the Worlds of Adventure project.
The 1,500,000sq ft (139,355sq m) park in Dubai has been designed by IMG in collaboration with Florida-based Falcon’s Treehouse, and will feature four themed zones. Two are centred on Marvel and Cartoon Network characters, while a third - Lost Valley-Dinosaur Adventure - features original animatronic dinosaurs and rides.
IMG says all zones will include “state-of-the-art attractions, mega-coasters, and immersive rides,” as well as a number of retail stores and dining outlets.
Worlds of Adventure - which will have the capacity to accommodate more than 20,000 visitors per day - is situated within City of Arabia, Dubailand, a popular district of Dubai which already features an array of visitor attractions.
IMG says the park will become the largest temperature controlled indoor themed entertainment destination in the world, although it has given no official date for opening.
ADIB acted as the mandated lead arranger, investment agent, security agent and account bank for the facility. Al Hilal Bank and Commercial Bank International acted as mandated lead arrangers, Noor Bank as lead arranger, and Sharjah Islamic Bank as arranger.
IMG Theme Park, the Dubai company behind the under-construction IMG Worlds of Adventure theme park, has secured AED1.2bn ($327m, £195m, €236m) in financing. Abu Dhabi Islamic Bank (ADIB) arranged the syndicated Islamic facility, which will be used both to refinance IMG Theme Park’s existing corporate facility and to finance expansion of the Worlds of Adventure project. The 1,500,000sq ft (139,355sq m) park in Dubai has been designed by IMG in
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