DXB Entertainments net loss widens to Dh2.7b

DXB Entertainments’, which owns and operates the Dubai Parks and Resorts theme park, net loss for 2020 widened over 215 per cent to Dh2.7 billion as compared with Dh855 million in 2019 due to Dh1.7 billion impairment losses on property and equipment. The jump in losses was also attributed to Dh346 million of non-cash depreciation. The company reported revenue of Dh144 million, 71 per cent lower than Dh491 million in 2019. Theme parks remained the highest contributor to total revenues, with Dh97 million, followed by Lapita and Riverland revenues of…

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Revisions and delays to Salford’s local plan

The council has moved to tweak a string of development management policies and pushed back formal adoption of the first part of its plan until June 2022. Salford City Council has pursued a two-part strategy to adopting its local plan, progressing a development management policies (DMP) document that will set the context for planning and allocations.This core strategy and specific site allocations part will follow once Salford knows what is required of it within the nine-borough joint development plan, which is expected to emerge as a watered-down version of the…

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Rendering of The London Resort

Kent’s ‘answer to Disneyland’ plans new fundraising round

Directors behind a £2.5bn theme park dubbed “the UK’s answer to Disneyland” are hoping to tap up investors for fresh capital this year as costs for the blockbuster development continue to mount. The London Resort Company, which plans to build a 1,245-acre theme park in Kent, has engaged financial advisers to raise funds in 2021 from additional sources in “London capital markets and other financial centres”. The capital-raising effort comes after a rollercoaster ride for the site, which has faced a swathe of planning hurdles in recent years. Full-year accounts for…

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