Tustin-based ProFun Management Group Inc. did what Warner Bros. and SeaWorld couldn’t.
The theme-park consultant and operating company opened Ferrari World earlier this month, establishing a management venture with Aldar Properties PJSC in Abu Dhabi.
“There were other projects planned for the area, but the downturn put a halt to their plans while our project continued on schedule,” said Jim Benedick, chief operating officer for ProFun.
Abu Dhabi has fared better through the slump than neighboring Dubai, its famously overbuilt neighbor and partner in the Persian Gulf’s United Arab Emirates.
But the economy has been tough enough to shelve a Warner Bros. Movie World theme park and a SeaWorld that had been planned for Abu Dhabi.
ProFun and Aldar launched Ferrari World—with the name licensed from Italian automaker Ferrari SPA—and is running the park under Farah Leisure Park Management LLC.
“We have a management service agreement with Aldar, but we are also joint venture owners in the operating company,” Benedick said.
Aldar Properties has a long track record in the United Arab Emirates, where it has built projects ranging from the Formula One Yas Marina Circuit that hosts auto races to beach resorts and upscale shopping centers.
Bigger Picture
Ferrari World is on Yas Island, the site of a $36 billion development by Aldar Properties, which is attempting to make the man-made island a tourism spot.
“We expect to get a lot of tourism from the Persian Gulf, North Africa, Middle East and Europe,” Benedick said.
The park includes 24 Ferrari-themed attractions. The Formula Rossa coaster is billed as the world’s fastest, with speeds topping 150 mph. There’s also a dueling rollercoaster where riders can race against each other, a Ferrari museum, driving school for kids and other attractions.
A sleek red roof inspired by the classic double curve profile of the Ferrari GT covers the park. Underneath is about 300,000 square feet of space that offers refuge from the desert heat and is billed as the largest indoor amusement park.
“It’s quite a sight to see,” Benedick said.
The project started in 2005. ProFun was brought on through its parent company, Tustin-based Management Resources, a leisure industry consultant that plays a role in early stages of planning.
“We work with all the different park designers all over the world helping them with the operational side of the designs,” Benedick said. “We help with the size of the restrooms, how many turnstiles, what type of restaurants and other details that an operator is going to know.”
Construction on Ferrari World began in late 2008. ProFun sent 10 employees to help manage the project.
ProFun added staff as the project progressed and later was selected as the operator of the theme park after reviews that included other theme park operators, including Six Flags Entertainment Corp. of Texas, according to Benedick.
Ferrari World is meant to be a draw for families with a capacity of 10,000 visitors a day. An enclosed shopping center is expected to be built nearby in the coming months.
The park might be the beginning of a Ferrari theme park franchise, according to Benedick.
“There is already talk of building another one in Spain, which we might be involved with,” he said.
The founders of Management Resources, which does not disclose information on revenue or profits, launched ProFun in 1999. Its staff has worked on Disneyland Paris, the American Museum of National History in New York, the Kennedy Space Center in Florida and the Aquarium of the Pacific in Long Beach, as well as projects for Paramount and Universal Studios.
In addition to consulting work for U.S. companies, ProFun has provided operational and management services in the Philippines, Australia, China, Brazil and Spain.
The company provided pre-opening and operational management support for Volkswagen Autostadt, an interactive center in Wolfsburg, Germany, in early 2006.
ProFun also is involved in the Suzanne Mubarak Family Park in Cairo, Egypt, a project by the wife of the Egyptian President Hosni Mubarak.
The park is managed by ProFun Egypt Ltd., a Cairo company formed by ProFun. It is set to open early next year with 69 acres of education and entertainment including a science center, a technology center, a nature center, a safari area and rides.
ProFun also manages uShaka Marine World in South Africa, a venture with Three Cities Group and Isundu Leisure, both based there.
ProFun just wrapped up management duties for an Information and Communi-cation Pavilion at the Shanghai World Expo. The pavilion was sponsored by China Mobile Ltd., China Telecom Corp. and others, and ran from May until October.
