Dubai Parks projects Dh2.4b revenues in first year of operations

Dubai: Dubai Parks & Resorts said on Thursday it estimates Dh2.4 billion of projected revenue in the first full year of operations, after it reported an expansion in net loss to Dh21 million in the quarter to December 2014.

“The first revenues are expected towards the end of 2016 following the opening of the parks to the public,” Raed Al Nuami, CEO of Dubai Parks and Resorts, said in a statement.

The company had Dh4.31 billion cash in hand with Dh6.88 billion worth of assets, it said, adding that it company expects to generate more than 5,000 jobs across the sector. Dubai Parks and Resorts ended 2.08 per cent lower at Dh0.752 on DFM (Dubai Financial Market) on Thursday.