DUBAI, Feb 26 (Reuters) - Dubai-based Union Properties UPRO.DU said on Thursday its has suspended its $460 million Formula One theme park due to the financial crisis and drying up of liquidity from banks.
"The suspension will delay the opening of the Formula One entertainment concept until 2010," it said in a statement on the project which was scheduled to be completed in 2009.
"The project is founded on a strong business model that withstands recession whilst allowing for the future growth of Dubai," Penny Fischer, marketing director for F1-X said in a statement.
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