Ferrari Land theme park to come up in Spain

PortAventura Entertainment S.A.U., has signed a licencing agreement with Ferrari to build Ferrari Land, a new Prancing Horse theme park, inside the PortAventura resort and theme park outside Barcelona in Spain.

Ferrari Land will cover 75,000 sq.mt. and include a variety of new and exciting attractions for Ferrari enthusiasts of all ages, including Europe's highest and fastest vertical accelerator. The first Ferrari-themed hotel is also to be built inside PortAventura and will be a luxury five-star establishment with 250 rooms, restaurants and a driving simulator.

The project will involve an overall investment of 100 million euros and the Ferrari theme park itself officially opens in 2016. PortAventura already welcomes 4,000,000 visitors a year with almost half of them coming from outside Spain.

Andrea Perrone, CEO of Ferrari Brand, the Ferrari subsidiary company that manages the Prancing Horse's brand-related activities, said "After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks. We carefully sifted through the various proposals and decided to accept Investindustrial's because it is a very solid plan developed by competent people that will bring the magic of Ferrari to Spain, a nation where we have many supporters and enthusiasts, and to which large numbers of tourists flock each year."