Ferrari to open $161 million theme park in Spain in 2016

Ferrari has reportedly revealed its plans to build a NZ $161 million theme park in Spain, which is due to open in 2016.

The Italian manufacturer has reportedly signed a licensing agreement with PortAventura Entertainment, a subsidiary of Investindustrial, to build the theme park named Ferrari Land, which would be built within the existing PortAventura resort and theme park, located about 100km outside of Barcelona.

According to Stuff.co.nz, the Ferrari park, which would cover 75,000 square metres and include a themed 250-room five-star hotel, rollercoasters, restaurants and driving simulators, is the second theme park due to be opened by the legendary prancing horse brand, with the first one located in Abu Dhabi.

Ferrari chief executive Andrea Perrone has said that with the success of Ferrari World, which was officially opened in 2010 and is said to be the largest indoor amusement park in the world, housed under 200,000 square-metre roof, in Abu Dhabi they received 'many requests' to open up a new 'amusement' park.

Perrone said the new license for their upcoming theme park further underscores their brand's presence in that area, adding Ferrari Land would be a delight for the whole family and not just Formula 1 fans.

Ferrari land is already the Mediterranean's top amusement park as well as ranked second in Europe, the report added.