Friday, October 06, 2006

Paramount Pictures Builds Theme Park in Ankara, Turkey

The theme park will be built by Paramount Pictures in Ankara on a 3 million square meter lot in the Aşagı Yurtcu-Ballıkuyumcu region on the Eskisehir Motorway. The investment has a value $1 bn.

Paramount Parks, a Paramount Pictures enterprise that was sold to Cedar Fair, L.P. in 2006 for $1.24 billion, has chosen Ankara for its new investment. The company has advanced a proposal to the Turkish Housing Development Administration (TOKI) to build a giant recreation park in Ankara. The theme park will be built on a 3 million square meter lot in the Asagi Yurtcu-Ballıkuyumcu region on the Eskisehir Motorway, where TOKİ has a project for the construction of 20 thousand residences.

The investment has a value of approximately 1 billion dollars. TOKİ Vice President Erdogan Bayraktar stated that Ankara is company’s own choice for the construction of the theme park that it wants to build in Turkey, which is planned to be a giant recreation center for the whole Middle East along with Western Europe. Bayraktar also added that the project will be started in 2007. Negotiations continue with the Ministry of Culture and Tourism to include some authentic Turkish designs in the theme park as well.


However, the conditions under which the land will be granted to the company are still not clear. The parties are still bargaining over whether TOKİ will sell the land, rent it for 49-50 years, or have a share in the profits. The construction of the theme park is planned to start next year and would be finished in 2-3 years. The park will provide jobs for ten thousand people in its construction stage, and when it is completed 30 thousand people are projected to be employed there.

The company estimates it will receive 3 million visitors a year for the park that it plans as the biggest recreation center of the Middle East. Ankara (A.A) - Fatma Orhan


Paramount Parks was an operator of theme parks and attractions, which annually attract about 13 million patrons. The company once owned and operated five theme parks in North America and managed Bonfante Gardens in Gilroy, California.

On January 27, 2006, the CBS Corporation announced its intent to sell Paramount Parks due to the fact that it didn't fit well within the company's core business (producing and distributing television content). On June 30, 2006, Cedar Fair, L.P. announced that it has completed its acquisition of Paramount Parks from CBS Corporation in a cash transaction valued at $1.24 billion.

Cedar Fair now owns 12 major amusement parks, 11 operating in the United States, with one operating in Canada. They also manage the unique attraction, Star Trek: The Experience, in Las Vegas, Nevada, along with a small theme park, Bonfante Gardens. Cedar Fair's flagship park, Cedar Point, has been voted The Best Amusement Park In The World for 10 consecutive years.

Based on stock value, Cedar Fair is the most successful amusement park chain behind Disney. Including results from the Paramount Parks since their acquisition, combined revenues through July 30 totaled $428.2 million. Over this same period, combined attendance totaled 9.7 million visits, average in-park guest per capita spending was $38.22.


  • Bonfante Gardens (Gilroy, California)
  • Cedar Point (Sandusky, Ohio)
  • Dorney Park & Wildwater Kingdom (Allentown, Pennsylvania)
  • Geauga Lake & Wildwater Kingdom (Aurora, Ohio)
  • Knott's Berry Farm (Buena Park, California)
  • Michigan's Adventure (Muskegon, Michigan)
  • Paramount Canada's Wonderland (Vaughan, Ontario, Canada)
  • Paramount's Carowinds (Charlotte, North Carolina)
  • Paramount's Great America (Santa Clara, California)
  • Paramount's Kings Dominion (Doswell, Virginia)
  • Paramount's Kings Island (Mason, Ohio)
  • Worlds of Fun (Kansas City, Missouri)
  • Valleyfair! (Shakopee, Minnesota)