Developer Union Properties has halted construction and postponed the launch of the first official formula one theme park in Dubai.
F1-X is mid-way through construction and was scheduled to be opened later this year, but Union Properties announced in a statement that its board have frozen the project at least until 2010 due to the global recession.
"It is hard to believe that a financial partner will not come forward in coming days or weeks to capitalise on the opportunity," marketing director Penny Fischer said.
The theme park was to boast a hotel, formula one museum and various grand prix-themed rides, simulators and rollercoasters.
