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Not content with building one of the Middle East’s largest tourist attractions, Ferrari has now set its sights on Fernando Alonso’s back yard for its latest theme park venture. That’s right – the Italian supercar maker has signed a licensing deal with Investindustrial-owned PortAventura Entertainment to build Ferrari Land inside the PortAventura resort and theme park south of Barcelona, Spain.

Following the mould set by Ferrari World – which features, among other things, the world’s fastest roller coaster – the 75,000 square metre theme park will feature a host of attractions designed for fans of the Prancing Horse, including Europe’s highest and fastest vertical accelerator. Also planned is the first Ferrari-themed hotel, a five-star establishment featuring 250 rooms, restaurants and a driving simulator.

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“After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks,” said Andrea Perrone, head of Ferrari brand management. “Spain is a nation where we have many supporters and enthusiasts, and to which large numbers of tourists flock each year.” PortAventura already draws four million visitors a year, 50% of which were from outside Spain.

Ferrari Land is projected to cost €100 million to build and will open its doors in 2016. It continues Ferrari’s meteoric rise as the world’s most powerful brand, after setting record profits last year despite selling fewer cars than 2012.