The financing of the massive Six Flags resort and theme park project at Jebel Ali, Dubai, UAE, by Dubai Parks and Resorts, has opened with a rights issue by the group, seeking to raise AED1.68bn (€400m), with subscriptions opening on May 12.
The company said this week that there are already "committed investors" amounting to around 80 per cent of the shares on public offer.
The money will go to build the AED2.6bn resort and park which will have 27 rides and attractions. The majority shareholder in Dubai Parks and Resorts is development organisation Meraas.
Raed Al Nuaimi, CEO of Dubai Parks and Resorts, said that the concept design had been completed and construction would begin by late 2016, aiming for an opening at the end of 2017.
