Ferrari says their money is in Abu Dhabi

Ferrari World in Abu Dhabi

Ferrari has invested quite a bit in Abu Dhabi, including Ferrari World. Under development still, the theme park will have 20 state-of-the-art attractions and more than 700 shops.

As Dubai continues to struggle with its debt crisis, one of the interesting footnotes of the developing story comes from Ferrari, whose chairman, Luca di Montezemolo, was afraid its customers would confuse the emirate with its wealthier, oil-rich neighbor, Abu Dhabi.

Ferrari is in the middle of creating a massive theme Park in Abu Dhabi, called Ferrari World, that is about 65 percent completed.

“The economic situation in Abu Dhabi is sound and is completely different,” Mr. di Montezemolo said recently. “The country has made important decisions based on the extraction of oil and has invested in industrial development, education, research, technology and tourism, and not just in the real estate sector.”

Ferrari World includes a grand prix circuit, which was opened this year for the final round of the Formula One championship. The rest of the Ferrari World development “is going according to plan and will be inaugurated next year,” added Mr. di Montezemolo. ” I personally admire enormously how this country is being guided with a forward-looking approach and without being dragged into speculative investments.”

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Source: wheels.blogs.nytimes.com

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