Ferrari has signed a non-binding agreement with a Chinese property developer to build the luxury car-maker’s first theme park in China.
To be located “in a primary city in mainland China”, a memorandum of understanding was signed between Ferrari, the state-owned Beijing Automotive Group and BAIC Eternaland Property for the multi-million dollar investment.
The theme park project would be Ferrari’s third worldwide, with its existing one in Abu Dhabi which opened in 2010 and another due to launch at PortAventura in Spain at a cost of €100m (US$113.3m, £72.1m).
Construction on Ferrari Land at PortaVentura is due to be completed at the end of 2016, with an opening date of either March or April 2017. No further details have been confirmed for the Ferrari property in China.
