The city’s big companies pledge to fund £ 2.6 billion for an amusement park in Kent dubbed “The UK’s Answer to Disneyland”
The big city firms have pledged to finance a £ 2.6 billion theme park in Kent dubbed “The UK’s Answer to Disneyland”.
Funding documents for a London resort near Dartford show that investors have lined up to finance the mega-attraction building in two phases through a mix of investment and debt.
Scene: What Disneyland-on-Thames could look like near Dartford once opened
More than £ 75 million has already been invested by businessmen from the Middle East led by Kuwaiti businessman Dr. Abdullah Al-Hamidi, owner of Ebbsfleet United Football Club.
The London resort is run by CEO PY Gerbeau, former president of the Millennium Dome, and is chaired by Steve Norris, former Conservative MP and Minister of Transport.
Developers must prove that the funding is in place to win planning approval from Housing Secretary Robert Jenric as it involves mandatory acquisition of the 1,150-acre site on the Swanscombe Peninsula.
The city’s investors, whose names have not been revealed, will commit to financing once the project is given the green light.
Big Four PwC has developed a financial modeling of the resort and its business plan has been audited by “many global organizations on behalf of investors,” according to the documents.
“The model demonstrates that the proposed development can provide sufficient operating returns to allow the required debt and equity to be secured,” they add.
The resort reportedly aims to open in 2024 and is expected to employ 17,000 workers by 2038.