Update: AEROSMITH Part Of Abu Dhabi's $1 Billion Formula 1 Grand Prix; Video Preview Available
October 29, 2009, 15 years ago
Richard Siklos from CNN is reporting:
This weekend, Abu Dhabi plays host to its first Formula 1 Grand Prix, and in typical fashion, the capital of the United Arab Emirates is pulling out all the stops, with a brand new racecourse estimated to have cost $1 billion and festivities including performances from AEROSMITH and Beyoncé.
As a first time visitor to the city-state, you can't help but notice at least two business-related themes - its rivalry with nearby Dubai (a 90-minute drive northeast) and an attraction to big brand names as part of a massive effort to diversify away from oil dependency and become more cosmopolitan: There are plans for branches of the Louvre and a Guggenheim designed by Frank Gehry, as well as outposts of New York University and the Sorbonne.
Abu Dhabi Media Company is also embracing the West, as the company has done deals with some of the biggest names in Hollyworld, from Warner Brothers to Participant Films to National Geographic and, most recently, Sony Music and Universal Music Group.
Read more here.
