Wednesday, April 17, 2024

DXB and Gulf Islamic Investments to Develop State-of-the-Art Parking Management System for Dubai Parks and Resorts

DXB Entertainments PJSC (DFM: DXBE) and Gulf Islamic Investments (GII) have announced that they have signed a new exclusive agreement to develop and invest in a state-of-the art parking management system for Dubai Parks and Resorts, the region’s largest integrated theme park destination, set to open on 31 October this year.

More than 10,000 parking spaces will be developed by GII across two parking facilities at the theme park destination. The parking facilities will include additional services including VIP and valet parking services, to further enhance the overall visitor experience.  In addition, one of the parking areas will be serviced by a tram system that transports guests to Riverland™ Dubai, the gateway to the destination.

The 5 year profit-share agreement will generate revenue through parking tariffs and other related services. Parking fees will range from AED 50-80 for a full day of parking and AED 120-150 for VIP and valet parking services.

Mohammed Alhassan, Co-Founder and Chief Executive Officer of GII (GCC), commented on this partnership saying: “This collaboration with DXB Entertainments is a remarkable opportunity for our investors to be part of the region’s largest multi-themed entertainment destination, and contribute to the city’s Tourism Vision 2020.”

Pankaj Gupta, Co-Founder and Chief Executive Officer of GII (UAE) added: “GII is aligned with Dubai’s long-term tourism strategy, and we are delighted to be part of this iconic development. This collaboration makes perfect strategic and business sense.”

Sandesh Pandhare, Chief Financial & Investment Officer at DXB Entertainments PJSC, the owner of Dubai Parks and Resorts said: “Convenient parking is an essential part of the visitor experience at Dubai Parks and Resorts. The parking facilities that will be developed under this agreement will help ensure a smooth and pleasant experience for our guests as well as generate long-term shareholder value.”

Joe Kleiman
Joe Kleiman
Raised in San Diego on theme parks, zoos, and IMAX films, InPark's Senior Correspondent Joe Kleiman would expand his childhood loves into two decades as a projectionist and theater director within the giant screen industry. In addition to his work in commercial and museum operations, Joe has volunteered his time to animal husbandry at leading facilities in California and Texas and has played a leading management role for a number of performing arts companies. Joe previously served as News Editor and has remained a contributing author to InPark Magazine since 2011. HIs writing has also appeared in Sound & Communications, LF Examiner, Jim Hill Media, The Planetarian, Behind the Thrills, and MiceChat His blog, takes an unconventional look at the attractions industry. Follow on twitter @ThemesRenewed Joe lives in Sacramento, California with his wife, dog, and a ghost.

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