Dubai Parks remains on track for opening in October
Dubai Parks & Resorts (DPR) reported its headline figures for 1Q2016. Net loss for the period was AED38 million, versus AED13 million net loss a year ago. Total assets grew 12% to AED9,679 million, while bank facilities and derivative financial instruments grew 73% to AED2,179 million. The following have been completed as of the end of March: 94% of ride production, 74% of ride delivery, 85% of overall infrastructure, 65% of overall facilities construction, and 55% of show system production. Management has confirmed that the park remains on track for its scheduled opening in October 2016. (Company disclosure)
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