March 26, 2010

Dubai has been in the news recently for some decidedly different issues than the upcoming World Cup horse races.  Development companies in the country face a massive deficit which came to a crisis point last November when one of  the companies halted payment on its $58 billion debt.  Dubai has invested heavily in luxury tourism and real estate which has been seriously impacted by the global real estate credit crisis.  But last week, the Dubai government pledged its backing for the struggling development company.   Work to prepare the new Meydan City development never stopped during the crisis.

As pointed out in the business press, by going ahead with the Dubai World Cup, the government of Dubai, and the ruling family, are making clear to the world that they will fully support both the continuing development of Dubai and thoroughbred horse racing during the world financial calamity.

On Thursday,  UAE vice president and Dubai prime minister, HH Sheikh Mohammed bin Rashid Al Maktoum, visited the Meydan facility to inspect the final preparations for the event this weekend.  He expressed approval of the clubhouse and stands which can accommodate approximately 60,000 racing fans and he also visited other parts of Meydan City which is a massive new metropolitan area  designed in large part around a single theme:  the horse. 

There are four sections within the city which feature major business districts, luxury shopping areas, fine hotels, and exclusive residential developments, some of which have access to a marina which can host up to 80 yachts.  The Goldophin Parks district is entered under a 40 story building that serves as an arch over the road - the arch is in the shape of a thoroughbred horse's head.  

One whole section of Meydan city is centered around the Racecourse which has been built to furnish the ultimate experience - and luxury - for top end racehorses, owners, and fans.

The Al Maktoum family, rulers of Dubai, have long been active both in Thoroughbred racing and in other equestrian sports, including the FEI endurance discipline.  The Godolphin racing stable and the Darley breeding program were started in 1992 by the Maktoum family, although their experience in thoroughbred racing dates back to the 1970s.  

This weekend's world cup will consist of eight races with total purses of $25 million.  This is the 15th running of the Dubai world cup, but the first to be held at the new Meydan City racetrack.  The track features both a 1-1/2 mile turf track which is shaped around the inner 1 mile synthetic surface track.  

It is truly a world-wide race meet.  Many of the top horses from Europe, the U.S., Brazil, Australia, South Africa and Japan are expected to run.  Godolphin stables have 18 of their own horses entered in 7 out of the 8 races.  The overall favorite for the most prestigious $10 Million title race, the World Cup,  is Gio Ponti from the U.S., an Eclipse award winner.  

And if race-goers are not thoroughly entertained by the racing alone, they can look forward to a concert featuring Elton John and Carlos Santana!

by Katy M., Community News

Sources:  Dubaiworldcup.com, Businessweek.com, Godolphin.com, emirates news agency, meydan.ae

Image from:  Meydan.ae