“Gentlemen, Start Your Engines”

It’s going to be a lavish and star-studded event when Abu Dhabi’s yet-to-be-complete FIA Formula One Grand Prix showcases the emirate’s global sporting, business and tourism profile. Business Management takes a look at progress to date.

On November 15, 2009 five glowing red lights suspended across the starting line of Abu Dhabi’s Yas Marina Circuit and a cacophony of roaring engines will signal the off for the emirate’s inaugural F1 Championship race. At first glance a birds eye view of the development on Yas Island looks nothing more than dusty, sprawling construction site. But look closely and you will see that the track and state-of-the-art facilities are finally beginning to take shape.

Next year’s date is provisional at this stage but is Abu Dhabi is still expected to be the finale for a 19-race season that would have seen the world’s best drivers battle wheel to wheel across five continents. The fact that the race could be the championship decider will add extra spice to the event. Designed by respected F1 track architect Herman Tilke, the 5.6km circuit will boast a non-permanent section that will replicate a street circuit, as well as extensive stadia and a marina. Up to 150 yachts will be able to allowed to berth alongside the track, which is being built by the UAE’s ALDAR Property Development Company.

But the Etihad Airways Airways Abu Dhabi Grand Prix (to give it its official title) is not just about the racing. Yas Island, a natural 2550-hectare island located to east of Abu Dhabi island, will also house a Ferrari theme park, a water park, signature hotels, golf courses, a 300,000 square metre retail area, apartments and villas, and much more. This will be right up there with the best circuits on the F1 calendar.

However, there have been whispers that the ambitious circuit won’t be finished on time, something that Phillipe Gurdjian, Chief Executive of Abu Dhabi Motor Sport, has rubbished. He told reporters that he is a “perfectionist” and that he is solely focused the development being ready for the earmarked date. His Excellency Khaldoon Al Mubarak, Chairman of the Executive Affairs Authority, Abu Dhabi has also been keen to stress that work is progressing well, with some parts actually ahead of schedule, including the piling work for the Pit Building and the excavation of the marina.

Gurdjian, who was drafted in to rescue grand prix in Spain, Malaysia and Bahrain believes that the race will showcase Abu Dhabi and the UAE’s offerings to a global audience. Sport is such a good revenue channel that both businesses and governments are vying to cash in on its worldwide appeal, especially Formula One.

Just look at Bahrain, for instance. This Middle Eastern neighbour hosted its inaugural F1 Grand Prix in 2004 – the first ever race to be held in the region – at its US$150 million circuit in Shakir. The financial gains are clear: last year’s race weekend alone generated almost US$400 million in direct income to the businesses and traders of the Kingdom. In fact, it is thought that F1 Grands Prix create more revenue per event than any other sport in the world. The multi-million dollar sponsorship deals with the world’s largest companies and the internationally recognised luxury brands echo this sentiment. On top of this are the millions of viewers seeing what Abu Dhabi has to offer through their TV sets.

The emirate believes the Yas Island project is another step toward competing with neighbouring UAE emirate Dubai, which already plays host to world-class golf, tennis and horseracing events, as well as its US$8 billion Dubai Sports City – due to be complete in 2010. Whether or not Abu Dhabi can overtake its neighbour will remain to be seen but it has certainly gained a motor racing upper hand and a highly-coveted spot on the F1 calender.

All we need now is the site’s15,000 workers to finish a circuit on time and one that will raise the bar even higher. Al Mubarak told the media in the summer that Yas Island Circuit will create an “unparalleled” experience. “By starting with a blank canvas we have had the luxury of learning from existing Grands Prix as well as other major sporting events to ensure everything we do is best-practice and that the experience we will deliver spectators is unparalleled.”

Vital statistics

• No. of laps: 56 (estimated)
• Length: 5.6km
• No. of corners: 20
• Top Speed: 320 km/h (estimated)
• Lap time: 1min 38sec (estimated)