Dubai Parks looks to future expansion with new name

Dubai Parks and Resorts has officially rebranded to DXB Entertainments as part of longer term plans to pursue opportunities beyond its upcoming attraction near Jebel Ali.

The company will now be traded using the DXBE code following the rebranding, which was approved by shareholders in June.

Read: Dubai Parks and Resorts mulls company name change

In a release it said its short-term focus would continue to be developing Legoland, Bollywood and Hollywood themed parks, set to open at the end of next month, as well as a fourth Six Flags park planned for 2019.

Read: Dubai Parks confirms October opening but some rides will be missing

Beyond this though, the company will “pursue additional ventures and opportunities to grow and diversify”.

“We have a long term vision to redefine the leisure and entertainment industry in the region and, as DXB Entertainments, we have plans to expand our portfolio of amazing family attractions and experiences. We believe there is great potential in the region for future growth of the entertainment industry and we want to be at the forefront, spearheading this expansion,” said chief executive Raed Kajoor Al Nuaimi.

“Changing our corporate name to DXB Entertainments is a clear statement of our ambition for growth beyond our existing theme park destination. Our new name differentiates our corporate entity from Dubai Parks and Resorts, and puts us on a firm footing for future expansion and ventures.”

Under the plans, chief destination officer Vinit Shah will take the role of chief business development and strategy officer. His previous role will be filled by a VP of marketing.

One possible area of expansion could be Six Flags theme parks in the other six GCC countries, with DXB Entertainments’ parent Meraas holding exclusive rights within the Gulf.

Read: Dubai Parks begins construction of Six Flags theme park