Dubai – Mubasher: DXB Entertainments has decided to halt works on the AED 2.6 billion Six Flags theme park project in Dubai due to lack of funds.
The decision taken after DXB’s board mandated the conduct of strategic review of its future development plans, according to a company statement released on Wednesday.
“In the intervening period, actions, including formal notification by Six Flags, resulted in funders’ concerns being raised specifically in relation to the revised projections for the Six Flags Dubai Project,” the Dubai-listed company revealed.
Set over an area of 3.5 million square feet, the project was planned to open in late 2019.
DXB Entertainments reported a loss of AED 733.48 million in the first nine months of 2018, compared to AED 861.97 million in the same period a year earlier.
