Restaurants and nightclubs operating in the vicinity of the upcoming Formula 1 Abu Dhabi Grand Prix can earn up to $1.6m (AED6 million) during the three-day race weekend, according to the partner at 4-Front Facilities, the Dubai-based hospitality firm behind concepts such as Mr Miyagi’s, Starz N Bars and The Scene.
Speaking to Arabian Business, Mansour Bin Jabr, who is also a professional rally driver, said revenue generated during Formula 1 can match the annual turnover for many Dubai restaurants.
“During F1 weekend alone, the turnover that you make is ridiculous. It’s ridiculous! The numbers that Cipriani does, or any of the other competitors around, is AED6 million in three days on a weekend. That’s the turnover for most restaurants in Dubai for a whole year. We have the numbers proven,” he said.
Bin Jabr, who brought famed Italian concept Cipriani to Yas Island in 2009 before handing it to current owner Bulldozer Group, said global brands flock to the capital to take advantage of the event’s popularity.
“That’s why international clubs like 1OAK, VIP Room, come to do pop-ups during F1 [in Abu Dhabi],” he said.
Bin Jabr is also the COO of Abu Dhabi-based Bin Jabr Group, which boasts a portfolio of businesses in sectors ranging from military vehicle manufacturing to restaurants and kitchen fit-outs.
The group is responsible for creating the UAE’s first Arab-built military vehicle and first Arab-built submarine under Nimr Automotives, a joint venture with Jordanian government entity King Abdullah II Design and Development Bureau (KADDB) to produce the 6x6 multipurpose vehicle and later, the maritime machine.
The group has also worked on some of the country’s significant projects including the construction of Port Zayed in Abu Dhabi, the supply of a complete steam system for IMG Worlds of Adventure Theme Park in Dubai and the installation of kitchen equipment for the Louvre Abu Dhabi Museum on Saadiyat Island.
The Formula 1 2018 Etihad Airways Abu Dhabi Grand Prix will take place from Thursday November 22 to Sunday November 25.
Last week, the Abu Dhabi event organisers announced all grandstand seats for the races were sold out in record time. Only a limited number of event hospitality packages are left, starting from AED3,695 including food and beverage.
As for the Yasalam after-race concerts, they will welcome US rapper Post Malone on Thursday, Canadian superstar ‘The Weeknd’ on Friday, UK singer Sam Smith on Saturday and legendary American band Guns N’ Roses on Sunday.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.