An artist impression of what the Sydney's Wonderland theme park could look like.
Millionaire property developer, Ammar Khan, will receive a one billion dollar investment towards his dream of resurrecting Sydney’s Wonderland theme park, which will now be bigger and better than first planned.
Indian oil company Fox Petroleum Limited (FPL) will invest one billion dollars over a five year period, three of which will make up stage one of the planned development that includes Sydney’s Wonderland, a wildlife park and a water park. All these parks will be connected by a multi-themed ‘boulevard’ with hotels, cinemas, restaurants and entertainment facilities, Mr Khan announced today.
The investment makes sense with FPL (based in the United Arab Emirates) recently expanding to Australia as Fox Petroleum Australia, and Mr Khan joining the company board as one of four directors. FPL trades in finished products produced from crude oil, gas and dual fuel turbines for electricity production.
Stage two will follow with sporting, live music and convention venues. Although an exact location has not been secured, the details of this stage are due to be finalised in the coming months and Western Sydney Theme Park plans to build, own and operate the precinct. Once a site has been secured, a proposal will be formally lodged with the State Government.
Mr Khan has expressed on many occasions his desire to rekindle the memories he had while working at the former western Sydney theme park Wonderland, by recreating Sydney’s Wonderland. Mr Khan has been working on this ambitious project since 2009 and would like tom include nostalgic elements from the original park.
“I worked there for nine years, up until it closed, and even tried to approach big business to keep the park alive,” he said. “I vowed to bring the park back, not just as a desire but a life-consuming obsession.”
The goal, however, is not just to bring Wonderland back in all its glory and more, but to give the Australian tourism economy a major boost.
“The tourism market has needed a major entertainment and tourism precinct,” he said. “We are excited about transforming the tourism economy...and bringing countless opportunities for employment and business.”
To help him achieve this goal, Mr Khan is bringing out the big guns. “David Bakas will join the board of management. He is an expert in the themed entertainment industry and is coming directly from Disney in Orlando, Florida,” Mr Khan said.
Sydney-based FPL chairman and managing director Ajay Kumar, whom Mr Khan started negotiating with about 12 months ago, said they were excited about the potential opportunities: “We are pleased to join this great business.”
Property developer Saryu Prasad, a director with the Fox Group of Companies, said he saw the Western Sydney Theme Park precinct as being a unique, world class project. “It should put Sydney’s tourism market at a whole new level on the international stage,” he said.
The Minister for Trade, Tourism and Major Events Stuart Ayres commented that the state is currently experiencing strong growth in international visitation, which was increasing demand for high quality tourism assets; a demand Sydney’s Wonderland can meet. He said he was looking forward to seeing a more detailed proposal when one is ready to be presented to the government, but could not confirm a possible location for the amusement park.
More details to follow as they become available.