UK

Kuwaiti tycoon behind ‘Dartford Disneyland’ declared bankrupt

Luke Barr
23 December 2023

The London Resort theme park was due to be built in Swanscombe, Kent - The London Resort

The Kuwaiti businessman behind a troubled £2.5bn Kent theme park meant to rival Disneyland has been declared bankrupt.

Abdulla Al-Humaidi, who was a key backer of the proposed London Resort development scheme, was confirmed to be insolvent at a High Court hearing last month.

It is the latest twist relating to the “Dartford Disneyland” scheme, which Mr Al-Humaidi previously ran as a director of London Resort Company Holdings.

London Resort, situated near the Thames in Ebbsfleet, was formed 12 years ago to rival the world’s biggest theme parks. However, it has been plagued by setbacks, including the discovery of a rare spider that hampered development efforts.

Earlier this year, it emerged that administrators had been called in to restructure the debt-laden business, which is owned by the Mr Al-Humaidi family through their investment firm Kuwaiti European Holdings.

Mr Al-Humaidi’s investment in the project came after he rescued nearby non-league football team Ebbsfleet United.

He first invested in London Resort in 2013 and four years later was joined on the board by his brother Dherar Al-Humaidi.

When contacted by The Telegraph, Mr Al-Humaidi declined to comment on his bankruptcy but said he had resigned from the London Resort board last year.

He also claimed to no longer have any involvement in the running of Ebbsfleet United.

It is understood that creditors are chasing Mr Al-Humaidi for millions of pounds. Some put money into the London Resort project, which remains unbuilt.

In 2014, the theme park became the first commercial venture to be designated a Nationally Significant Infrastructure Project, allowing it to bypass local planning authorities. However, developers have struggled to make progress amid financial difficulties.

Earlier this year, a number of conservation groups wrote to Levelling Up Secretary Michael Gove calling for the planning permission to be revoked because of the “devastating” impact on wildlife.

US media giant Paramount Global has also been caught up in the project’s woes after it partnered with London Resort.

Paramount agreed that developers could build roller coasters at the London Resort inspired by The Godfather and Mission Impossible under a deal struck four years ago.

However, Paramount has since launched a legal battle to reclaim £13.5m in unpaid fees.

London Resort was contacted for comment.