F1 Theme Parks

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(from planetf1.com)

Bernie Ecclestone has signed a deal with a property develepor that will see the construction of Formula 1 theme parks across the globe, with the first one set to open in Dubai in 2009.

United Arab Emirates developer Union Properties reached an agreement with the F1 boss in October 2005 to create the first such park in the Middle East and on Thursday put pen to paper in an exclusive rights deal enabling the construction of similar parks across the world.

There are no concrete indications about where the rest of these parks will be built but both Ecclestone and the developers are very excited about the deal.

"Following the signing of an agreement for developing the first ever F1 theme park in Dubai, we are delighted with the signing of this licence agreement allowing us to roll the concept out worldwide," Simon Azzam, CEO of Union Properties told ITV.

"This is yet a further commitment and exemplifies the strong business relationship between Union Properties and Formula One Administration.

"Having the exclusive rights to develop F1 Theme Parks around the world is an exciting challenge and ample reward for all our sustained efforts.

"This proves that our endeavours to maintain a high standard at all times have gained substantial recognition.

"We are starting in Dubai with the first ever F1 Theme Park, but this will only be one of many that eventually will be developed around the world."

Ecclestone added: "F1 is a worldwide brand and it is logical that if we do something it will be for the whole world at large.

"Our association with Union Properties means that we will start in Dubai and then together we will see where our next F1 Theme Park will be.

"UP's good reputation and 19 years experience as a developer were key factors that made this agreement viable."

Construction on the Dubai Park will start as early as next month and is set to include conference centres, a hotel and entertainment facilities.