Industry News 5/31/2006

Extreme & Nakeel Partner to Make

Two Companies, Extreme and Nakeel, agree to create a ground breaking experiential theme park in Dubai

Extreme announce today it has signed a deal with Retail Corp and Nakeel to develop a multi-million dollar 3 million square ft Extreme branded experiential theme park in Dubai. The partnership between Retail Corp and Extreme Group’s theme parks business division, Ex Parks, aims to revolutionise the existing theme park model for the 21st century and introduce a brand new concept in theme park design and construction.  The mission is to break the mould of traditional themes parks globally and become the blueprint for theme parks in the future.

Phase 1 of the project will focus on the concept, the design, the lay out, the experience and the look and feel of the Park. It will also include a feasibility and market study to give both parties a full understanding of market with a view on a global role out. The Ex Park will offer riders areas to ride and theme park fans interactive and experiential areas across sports and lifestyle activities   based around the computer gaming, BMX, skateboarding, snowboarding, skydiving and surfing, plus ground breaking cutting edge rides in the world.

The plan is to develop cutting edge rides and experiences based on routes a snowboarder may take down the face of a steep deep powder field, a base jumper might experience when basing off a building or a surfer may experience when catching a  wave.  Engineers will then replicate the motion and speed a rider experiences when developing it into a ride.

Al Gosling, CEO of Extreme and founder of the Extreme Sports Channel commented: “Our vision for Ex Parks is to bring a whole range of extreme activities to a park environment and create a credible 21st Century alternative to the standardise parks out there today in Arena.   Retailcorp share our vision to deliver an incredible customer experience to a wide consumer base who may otherwise only appreciate the thrill of extreme sports as a spectator.”

Marvin B. Shaire, Chief Operating Officer of Retailcorp added: “Extreme Sports in Dubai is a relatively new thing although the market for such activities is growing massively.  We are delighted to be developing a brand new idea for the modern day theme park with the Extreme Group as we are convinced it has a formula for success.

The new skate and wave themed park will bring a breathtaking new sports and retail attraction to the Middle East and will offer:  

  • Pro-designed skatepark street course & ramps, with pro & beginner areas
  • WaveLoch 10 ft breaking competition class stationary sheet wave
  • FlowRider beginners and recreational wave
  •  Extreme rollercoasters
  • Rock-effect indoor climbing walls 
  •  Pumping audio/visual system and live DJs
  • Video games systems
  • Internet access
  • Extreme Stores, Café and Hotels
  • Future plans will see exciting new attractions such as skydiving simulatorsand     bungee trampolines for a complete and exhilarating extreme sports  experience

About Ex Parks
“Our goal is to develop ground breaking world leading Extreme branded theme parks based on action sports and all of the lifestyle elements that surround them’’. Ex Parks is pioneering a new generation of Extreme sports-focused theme  parks across the world.  With the traditional theme parks model in decline, we are looking to deliver a completely new, revolutionary experience. Anchored around state of the art skate parks, double wave rides and even a skydiving wind tunnel…..athletes, riders and theme park fans will be blown away by what's on offer. The experiential area will enable anyone to see what it's like to ride a huge wave or base jump off a cliff, but without any risk to life or limb. The retail area will include shops from all the leading clothing & equipment brands with a wide choice of hardware and technical gear on tap. http://www.exparks.com

About Extreme
Extreme was started in 1995 by Al Gosling, Founder of the Extreme Sports Channel.  He set up Extreme with the goal of establishing the world’s leading Extreme Sports Media Company.

At Extreme we believe in doing things differently, offering people something ground-breaking and new but having a laugh while we make it happen. Each of our fast moving youth-driven companies is run by great people who are passionate, innovative, independent and equity driven. We empower these teams to manage their businesses, listen to feedback and react quickly to ensure continuous improvement. http://www.extrememediagroup.com

About Retailcorp. and Istithmar PJSC

Retailcorp represents the retailing arm of the group of companies owned by the Ruling Family of the Emirate of Dubai, these include Nakheel, Istithmar, Dubai Ports Authority, Jebel Ali Free Zone, Dubai Customs and Dubai Metals and Commodities Centre. It is a wholly owned subsidiary of Istithmar (www.istithmar.ae), a major investment house based in the United Arab Emirates focusing on private equity, real estate and other alternative investments, and is owned by the Government of Dubai.

Retailcorp is a subsidiary of Istithmar PJSC, a major investment house based in the United Arab Emirates focusing on private equity, real estate and other alternative investments. As Chief Operating Officer, Marvin Shaire brings to Retailcorp, extensive retail, consultancy and strategic input.

Retailcorp was created in 2004 and signalled the birth of a new major player in the regions retail market.  It focuses on the development of networks in the region, either by introducing brands that have not yet penetrated the market or by re-structuring fragmented segments of retailing. It provides strategic expertise, management and financing services and facilitates many aspects of the development of a brand in the region thanks to its special status.

Established in 2003, Istithmar was created with the key mission of earning exceptional returns for its investors while maintaining due regard for risk. Established with an initial investment capital pool of $2 billion, Istithmar has, to date, invested in 30 companies deploying approximately USD 1.5 billion in equity capital. It currently focuses its activities in four industry verticals – Consumer, Financial Services, Industrial and Real Estate.  Istithmar will enhance its own existing capital pool of $2 billion through partnerships with world-class corporations and other leading providers of capital, the creation of investment funds and leverage.