07 Mar 2008

Busch Entertainment: Courageous Dubai Deal


For the first time ever, Busch is expanding outside of the US and has announced some phenomenal expansion into Dubai (UAE). The Busch Entertainment Corporation (BEC), the division of the Anheuser-Busch enterprise geared to family entertainment, has closed a deal with Nakheel PJSC, one of the largest land developers in the world. This agreement foresees the creation of "Worlds of Discovery" in The Palm Jebel Ali in Dubai, consisting of SeaWorld, Aquatica, Busch Gardens and Discovery Cove. BEC and Nakheel, one of the most important companies involved in Dubai's development into one of the fastest growing cities in the world, recently agreed on a memorandum of understanding. This contract encompasses the gradual construction of four theme parks at the second of three Palm land reclamation project sites. Nakheel is providing the necessary capital for the construction and operation. BEC is giving Nakheel a licence for its theme park brands and the parks will be run within the framework of a management contract. Initial design and planning work for the gigantic Dubai project is already underway in the gulf region; the first phase is to be completed and opened to the public in 2012. (eap)