Building work on a Formula One theme park in Dubai has been suspended due to the financial crisis.
Autosport.com reports that the park, called ‘F1-X’, was to open this year, having first been unveiled in 2005 as a $360 million investment. However the opening has now been put back until 2010, according to a statement by the company behind the project, because of the “drying up of liquidity from banks and financial institutions”.
Penny Fischer, marketing director at F1-X, was quoted by Autosport.com: “With construction more than 50 per cent complete, the core of international expertise on the ground and operational plans virtually complete, it is hard to believe that a financial partner will not come forward in coming days or weeks to capitalise on the opportunity.”
