daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old June 26th, 2005, 11:45 PM   #1
Monkey
BANNED
 
Monkey's Avatar
 
Join Date: Oct 2002
Location: Londinium
Posts: 14,110
Likes (Received): 38

Aquaria project

A newer rendering of the "Aquaria" project,
looks like they made it bigger then on the first plan, the building is planned to finish in 2009 .



Aquaria tourism project near Eilat approved
A group of American Jewish investors plans to build a $350 million tourist attraction.
Ron Paz 2 Mar 05 17:30


The National Planning and Building Board has approved Aquaria, a large tourism project located north of Eilat. The National Planning Board approved the project after the Israel Land Administration (ILA) promised Kibbutz Eilot alternative agricultural land for the land to be expropriated for the project, and to provide adequate compensation for date plantations on the site.
A group of American Jewish investors plan to build a $350 million tourist attraction on a 1,500-dunam (375-acre) site on Kibbutz Eilot land. $50 million of this sum is to due to be paid to the government.

Published by Globes [online], Israel business news - www.globes.co.il - on March 2, 2005
Monkey no está en línea   Reply With Quote

Sponsored Links
Old June 27th, 2005, 12:48 AM   #2
Hebrewtext
Registered User
 
Hebrewtext's Avatar
 
Join Date: Aug 2004
Location: Tel Aviv - Yafo
Posts: 3,512
Likes (Received): 2946

Israeli Amusement Park
Is Under Construction
By SHEILA MUTO
Staff Reporter of The Wall Street Journal

From The Wall Street Journal Online


Aquaria Ltd., which plans to develop a $375 million retail and entertainment project in Eilat, Israel, near the border of Jordan in an area referred to as the Red Sea Riviera, has hired Sonnenblick-Goldman Co. to raise $305 million in venture and construction financing for the project.

The 300-acre development, dubbed Aquaria Entertainment City, includes a water-themed amusement park, a 10,000-seat arena, a 2,500-seat amphitheater, shops, restaurants and an 18-hole golf course. Using planners and designers that helped create Walt Disney Co.'s Epcot park in Orlando, Fla., Aquaria also will offer amusement rides mixed into areas that mimic the look of other cities, including Hollywood, New Orleans, San Francisco, Rio de Janeiro, St. Tropez, Venice, St. Petersburg and Bangkok.

The Israeli government is providing a $45 million grant and is leasing the land to Israel-based Aquaria, whose mostly U.S.- based principals are putting up about $25 million. Sonnenblick-Goldman, a New York real-estate investment banking firm, is raising $100 million in equity and $205 million in debt.

Eli Lankri, Eilat's deputy mayor, hopes Aquaria will rejuvenate international tourism, which has fallen off since 2000 due to the violence in the Middle East. Last month, the U.S. State Department issued a travel warning urging Americans to defer travel to Israel after a U.S. citizen was kidnapped in the West Bank. Mr. Lankri also hopes Aquaria, which is expected to create 2,000 jobs, will help reduce Eilat's 8% unemployment rate.

Arthur Sonnenblick, senior managing director of the firm that bears his name, says Sonnenblick-Goldman will target investors in the U.S. and Europe, and doesn't believe the violence in the region will be a deterrent. "I don't like to take on projects that I don't feel comfortable that I can get done," he says. "I think the returns will be attractive to investors."

The project is expected to generate returns of 18% to 20%, says Joseph Bernstein, Aquaria's Delray Beach, Fla.-based co-president. He says Aquaria's feasibility relies on the 2.5 million Israelis who visit Eilat annually -- and not on the return of international tourism. And if the government moves forward in allowing casinos in Eilat, "we may make a bid" for those operations, he adds. Construction will start next year for a 2008 opening.



Press ReleaseContact:
Jeannette Boccini (212-499-6566) or David Grant (212-499-6565)
LVM Group Inc.


SONNENBLICK-GOLDMAN RETAINED TO SECURE VENTURE AND CONSTRUCTION FINANCING FOR AQUARIA ENTERTAINMENT CITY, A 300-ACRE BEACHFRONT COMPLEX ON THE RED SEA IN ISREAL

Wednesday, September 01, 2004 – New York, NY – Sonnenblick-Goldman Company has been retained by Aquaria, Ltd. to arrange venture and construction financing for the development of Aquaria Entertainment City, a mixed-use entertainment, recreation, and lifestyle center to be built in Eilat, Israel, on the Red Sea.

The 300-acre beachfront parcel, owned by the government, is being developed as a national tourism infrastructure project in a private-public partnership. The new "City" is intended to be a catalyst for tourism development in the region, in much the same manner as Walt Disney World served as a catalyst for tourism development in Orlando.

Unlike Disney World or Universal Studios, which are gated attractions where a ticket provides admission to the park, Aquaria will be a city with facilities open to visitors around the clock. The development will contain numerous entertainment activities, such as a theme park, water park, festival marketplace with shops and restaurants, golf and beach club facilities, convention center, arenas, amphitheaters, catering operations and other entertainment and leisure services.

Aquaria will be themed with fountains, waterways and distinguished ports from all over the world, including New Orleans, San Francisco, Puerto Vallarta, Rio, St. Tropez, Venice, St. Petersburg, Istanbul, Hong Kong and Bangkok.

Aquaria is expected to draw tourists from all over the world, and serve as the cornerstone for the repositioning of Israel as an international family destination.

The development cost of Aquaria is expected to be $375 million, with approximately $205 million in debt, a $45 million Israeli government grant, and $125 million of equity led by the developers.

Aquaria is projected to open in 2008.

"We are delighted to see all the hard work of so many talented people coming together after many years of studies and preparation," says Joseph Bernstein, the project’s founder. "We believe Aquaria will create a new heartbeat for Eilat. It will be the first project of its kind one that we expect will set the standard for future recreation centers around the world."

Arthur Sonnenblick, senior managing director of Sonnenblick-Goldman Company, adds, "We believe Aquaria will be successful and are proud to have the opportunity to participate in arranging the financing for the project. The viability of the project is strongly supported by the project’s superior location in Eilat, Israel’s tourism hub, with 2.5 million Israeli visitors each year. In addition, Mr. Bernstein has put together a very strong and experienced development team well worthy of a project of this scope."


--------------------------------------------------------------------------------

Sonnenblick-Goldman Company is the industry’s leading independent real estate investment banking firm. Founded in 1893, Sonnenblick-Goldman Company provides a full range of financial services including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in Sydney, Hong Kong, San Francisco, and Tokyo and has a representative in Shanghai. Further information can be found at Sonnenblick-Goldman Company’s website at www.sonngold.com.

http://americaspartners.net/entertainment.asp

Last edited by Hebrewtext; June 27th, 2005 at 01:04 AM.
Hebrewtext no está en línea   Reply With Quote
Old June 27th, 2005, 12:55 AM   #3
Monkey
BANNED
 
Monkey's Avatar
 
Join Date: Oct 2002
Location: Londinium
Posts: 14,110
Likes (Received): 38

thanx for information
Monkey no está en línea   Reply With Quote
Old June 27th, 2005, 02:35 AM   #4
Nasdaq
Nasdaq
 
Nasdaq's Avatar
 
Join Date: Feb 2005
Location: Calgary
Posts: 45
Likes (Received): 0

Wow! Thats massive.
Nasdaq no está en línea   Reply With Quote
Old June 27th, 2005, 04:03 AM   #5
xXPimpinPunjabiXx
Punjabi Gangsta repin NYC
 
xXPimpinPunjabiXx's Avatar
 
Join Date: Jun 2005
Location: QUEENS, New York
Posts: 74
Likes (Received): 2

that looks like a big project..hope it gets build
__________________
"success is my only option, failures not" - Eminem
Live yo life to the fullest people, you dont know if there's gonna be a tommorrow. You sleep thinkig about what's gonna happen the next day...but then the next morning, you dont wake up......

G-UnitG-UnitG-Unit
xXPimpinPunjabiXx no está en línea   Reply With Quote
Old June 27th, 2005, 04:19 PM   #6
Monkey
BANNED
 
Monkey's Avatar
 
Join Date: Oct 2002
Location: Londinium
Posts: 14,110
Likes (Received): 38

yeah we all hope!
but it must start soon!
Monkey no está en línea   Reply With Quote
Old June 27th, 2005, 09:46 PM   #7
malec
Rrrraaaaaahhhhhhh!!!!!!!
 
malec's Avatar
 
Join Date: Apr 2005
Location: Cork
Posts: 9,598
Likes (Received): 125

Wow that looks huge!! That waterfall area looks really nice.
malec no está en línea   Reply With Quote
Old June 27th, 2005, 10:05 PM   #8
Victoria
Brought to you by...
 
Victoria's Avatar
 
Join Date: Feb 2005
Location: N/A
Posts: 799
Likes (Received): 6

That sounds really neat, thanks for the info.
__________________
past, present, future...
Victoria no está en línea   Reply With Quote
Old July 14th, 2005, 10:09 AM   #9
Stanpolitan
Registered User
 
Stanpolitan's Avatar
 
Join Date: Jul 2005
Posts: 906
Likes (Received): 4

Magnificent project for Eliat again!!! I see Hagia Sophia in middle. A piece of that immortal city will be there , too. I'll love to go there one day, as I always had an urge to immerse myself in Red Sea. Shalom
Stanpolitan no está en línea   Reply With Quote
Old July 14th, 2005, 11:50 PM   #10
Monkey
BANNED
 
Monkey's Avatar
 
Join Date: Oct 2002
Location: Londinium
Posts: 14,110
Likes (Received): 38

sen Turkiyedensen?
Monkey no está en línea   Reply With Quote
Old July 15th, 2005, 12:47 AM   #11
RoM
Praise The RoM
 
RoM's Avatar
 
Join Date: May 2003
Location: Ashdod
Posts: 729
Likes (Received): 15

An impressive project, would boost Eilat enormously!!
__________________
"Every Civilisation Finds It Necessary To Negotiate Compromises With It's Own Values"
RoM no está en línea   Reply With Quote
Old July 16th, 2005, 11:17 PM   #12
Qatar4Ever
Registered User
 
Join Date: Feb 2004
Location: Doha/Texas
Posts: 1,640
Likes (Received): 0

Looks good !!
Qatar4Ever no está en línea   Reply With Quote
Old July 17th, 2005, 08:46 AM   #13
Stanpolitan
Registered User
 
Stanpolitan's Avatar
 
Join Date: Jul 2005
Posts: 906
Likes (Received): 4

Quote:
Originally Posted by Monkey
sen Turkiyedensen?
Su anda Yeni Dunyadayim
Stanpolitan no está en línea   Reply With Quote
Old July 17th, 2005, 09:37 AM   #14
[MakkabI]
BANNED
 
[MakkabI]'s Avatar
 
Join Date: Dec 2002
Location: Israel and Australia - Tel Aviv and Sydney
Posts: 687
Likes (Received): 2

BTW: Monkey = Zohar
(someone hacker changed Zohar's nickname into Monkey)
[MakkabI] no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 09:37 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu