Disneyland, Hong Kong. New business for Israelis?
Photo: Reuters
Israelis to build U.S. amusement park
Local realty giants to erect theme park in South Carolina at USD 360 million investment. 'The region is desperate for attractions like this,' company CEO says
Polar International, of the Polar Investments Group, and Africa Israel announced this week they have signed a deal to build a giant amusement park in South Carolina at a USD 360 million investment.
The park, to be titled Hard Rock, is planned to cover 150 acres.
Polar and Africa Israel are both considered prominent players in the local Israeli market, with a rich record of real estate activity abroad.
Although amusement parks are not part of the companies' portfolio, Pini Cohen, Africa Israel's CEO, and Avigdor Kelner, Polar's CEO and president, have decided not to miss this roller coaster opportunity.
Great potential
"This industry is not entirely new to us," Africa Israel's CEO Cohen said in an interview with Ynet.
"We have already constructed one amusement park in the southern city of Eilat (Kings City). The park in the U.S. is also set to be a theme park for families, with the theme being music. Naturally, it will also be a much bigger project," Cohen said.
Kings City, a first of its kind theme park in Israel, concentrating on the stories of the bible, was inaugurated by Africa Israel in June this year. Four years of planning and construction, plenty of counseling and guidance from the Disney people, and NIS 162 million (about USD 34 million) were put into the unique project.
Cohen explained that the decision to go on this American business venture was based on the promising potential of the South Carolina area.
"The project will be erected in the Myrtle Beach area, one of most popular tourist sites in the U.S., which spreads across 44 miles and boasts more than 500 hotels. The region, which hosts about 14 million tourists every year, is desperate for attractions of this kind, and a group of investors has already been working on the park for five years now," Cohen said.
Yonit Mozes contributed to the report
