Jordan’s Rubicon Group Holding is working on the pre-concept designs for two multi-million-dollar theme parks in China and Perth, its founder and CEO told Arabian Business.
The Amman-based firm said it may look to sell its shares to the public in an initial public offering (IPO) within the next two years, said Randa Ayoubi.
“We are now doing a project in China that is in the pre-concept phase. We’re also in the pre-concept phase for another in Perth, Australia that should start next year,” said Ayoubi, adding that the firm plans to open two new offices in each country.
Companies such as Rubicon that design the attractions in theme parks typically account for around 20-30 percent of the overall cost. The project in China will be developed at an overall cost of around $3.6bn, she added.
Ayoubi, who founded the animation company in 1994 with just $150,000 and now generates around $40m of revenue annually, said the firm is considering an IPO.
“Yes [we are considering it]; we’re in the phase of discussing what is best [but] going public is usually a matter that the shareholders drive,” she said.
“I don’t think it’s a long way off, maybe a year and a half to two years of mainly preparation,” she added.
The entertainment firm, which created the Arabic children’s television show Ben & Izzy, said it had finished the detailed designs for the Red Sea Astrarium, a $1bn entertainment resort in Aqaba, Jordan.
“We finished all of the detailed design, us and the architects,” she said. “The owners will announce that in Oct [but] they are ready to do ground breaking.”
The 184-acre entertainment resort will include a Star Trek-themed attraction inspired by the 2009 film Star Trek, which is being developed by Paramount Recreation, will generate around 4,000 jobs in the country.
Rubicon, which makes films, cartoons, toys and education products aimed at children in the Middle East and the US, will release its 3D feature film version of Postman Pat in May. The film will star Jim Broadbent, David Tennant and Rupert Grint.
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