In a major step forward in the development of the AED 14 billion integrated theme park project, Legends in Dubailand, Legends Development Company (LDC), has announced opening a new state-of-the-art on-site headquarters and commencement of the earthwork for the first of the three theme parks within the development– Legends of Arabia.
The Legends headquarters was officially inaugurated by, Mr. Mohammed Al Gergawi, Chief Executive Officer of Dubai Holding, promoters of the Dubailand, at a gala ceremony accompanied by a thrilling light and sound show late evening on Sunday.
Unveiling salient details of the development plan for Legends, senior officials of Dubailand, Gulf Finance House B.S.C. (GFH), the Bahrain-based Islamic investment bank behind the project and the project’s holding company, LDC, termed the opening of the new headquarters as a strategic step in developing the mixed-use integrated project which is conceived as one of the largest destinations for leisure and entertainment tourism in the Middle East.
Congratulating the Legends team on the opening of the new headquarters, Mr. Salem Bin Dasmal, Chief Executive Officer of Dubailand, said: “The opening of the Legends headquarters marks the very first step in translating the concept of the integrated theme park into reality. For both Dubailand and Legends, it is indeed an exciting beginning and a confident step forward. We are also extremely happy that the development of the first of the three parks is imminent.”
The Legends headquarters spread over a built-up area of 87,000 square feet, was completed in a record five months, reflecting the commitment of GFH to the delivery of the project on schedule.
Located on the northern edge of the Legends Dubailand development and overlooking the project, the six-storied headquarters will also house a Customer Relations Centre, an auditorium, a mock-up area and a soon to be completed permanent exhibition venue for the various projects conceived by GFH.
Elaborating on Legends, Mr. Esam Janahi, Chief Executive Officer and Board member of GFH said: “Legends is a significant project for GFH since it crowns our ambition to play a leading regional role in infrastructure development. As a unique project, Legends reflects our commitment to bring to the region innovative projects which contribute to overall economic growth, promote intra-regional investments and present growth-focused long-term investment opportunities to regional and global investors.”
“The opening of the new headquarters coupled with the commencement of the earthwork of the first of three theme parks, Legends of Arabia, during the Holy Month of Ramadan marks an auspicious beginning for us. Thanks to the whole-hearted support and encouragement from the Government of Dubai and the Dubailand, we have been able to stick to our schedule in the development of the project, and we are confident of the completion of Legends within the time limits we have set for the development,” he said.
Mr. Janahi said the three world-class, climate-controlled theme parks were central to the Legends project spread across 24.7 million square feet. “Legends of Arabia, the first component to be operational by 2008, will offer an immersive experience to visitors blending fantasy and fables of yesteryears with superior technological brilliance.”
Legends components include two more theme parks – Legends of Nature and Legends of World-which are inspired by the magic and magnificent places on the planet of mythology, natural wonders. Other integral components of the project include a residential component Living Legends, themed hotels including a 50-storey Legends Tower Hotel combined with office towers and conference centre, a 9-hole golf course, a Golf hotel and Legends Leisure Complex comprising promenade, entertainment, shopping and dining area and a business location, Trade Legends.
The Dubai-based LDC is mandated by GFH to oversee the development of Legends which is targeted to be completed in full by 2013.
Commenting on the investor enthusiasm to Legends, Mr. Abdul Rahman Al-Jasmi, Deputy Chief Executive Officer of GFH said: “Legends has created a stir among local, regional and global investors thanks to its out-of-the-ordinary concept. Moreover, in the context of the growth in regional tourism above world average, Legends presents a unique long-term opportunity to investors.”
Recently, the Saudi Arabia-based business entity, Tanmiyat Group had announced acquiring the residential and commercial components of the Legends at an investment of US$2 billion. Tanmiyat is also part of the Legends platform through a 40 per cent subscription of a US$302 million private placement floated to fund the first phase of the project.
Explaining the role of the Legends Headquarters, Ms. Fauzia Al-Khanjari, General Manager of Legends Development Company said: “The headquarters will be a focal centre of the Legends development and in the short-term will provide assistance to developers to enable sales. In the long-term, the premises will function as the facilities management headquarters for the completed development.”
“We will also have a full-fledged multi-lingual sales team based at the Legends headquarters proficient in Arabic, English, Hindi, Farsi, Russian, German, Italian, French and Tagalog,” she added.
