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Ferrari signs deal for new outrageous theme park

2016-03-18 11:19

ONE MORE THEME PARK: Ferrari has signed a deal for a new theme park to be built in China, probably one like this above outside Abu Dhabi in the UAE. Image: AFP / Ferrari World

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Milan, Italy - Ferrari announced on Thursday that it had signed a memorandum of understanding with two Chinese companies to build a theme park in China.

The non-binding deal with Beijing Automotive and Biac Eternaland Property will, if implemented, see the two Chinese companies licensed to establish the park in a still-to-be-decided Chinese city.

The luxury sports car maker and F1 powerhouse already has a theme park on an island near Abu Dhabi and is in the process of constructing another one in Spain.

Luxury brand, luxury park

The parks are one of the ways in which the company is hoping to leverage its luxury brand to generate additional revenues.

The company's sales in China, which represent about 5% of its total worldwide, fell 22% in 2015.

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