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Major investment for Montréal-Mirabel

European Consortium to transform former terminal into huge world-class theme park.


September 19, 2007
By Carey Fredericks

MONTREAL, Feb. 21 /CNW Telbec/ – Aéroports de Montréal (ADM) and I-Parks-Oger International (the Consortium) are pleased to announce that they have signed a memorandum of understanding regarding the redevelopment of the former passenger facilities at Montréal-Mirabel International Airport. The Consortium plans to develop an indoor recreational multiplex at Montréal-Mirabel covering more than 100,000 m2 and conceived as a festive and cultural dream destination, built around relaxing spaces and a summery, tropical mood. The proposed concept, based on the theme of water and outer-space, invites visitors, their families and friends on an escape to strange and imaginary new worlds and an immersion in the wonders of high-technology. AeroDream (Rêveport in French) will be a one-of-a-kind attraction in
North America, open year-round and geared toward people of all ages, regardless of physical condition. The target market includes local visitors, as well as tourists and business travellers. The initial phase of the project will cost an estimated $100 million, to be financed by private-sector and institutional funding.

"We are delighted to have identified a project of such quality for the former Montréal-Mirabel terminal – one that is international in calibre, has a solid financial footing and holds promise," said James Cherry, President and Chief Executive Officer of ADM. "The I-Parks-Oger International project fully meets our expectations, particularly in terms of job creation and the economic spinoffs. The entire Laurentians region will enjoy the benefits of the ripple effect from this one-of-a-kind product, which is sure to be a marvellous complement to the many attractions already located in the area and could well become a catalyst for other large-scale tourism projects."

Gilles Assouline, President of both I-Parks and the I-Parks-Oger International Consortium, said: "We are very pleased with ADM's drive and motivation and we firmly believe in the success of this project, signs of which are already apparent in terms of favourable infrastructure and accessibility, low set-up costs, international visibility and an enviable geographic location, along with marketing adapted to the travel and leisure needs of our Québec friends and visitors."

For his part, Géry Carot, Chairman and CEO of Oger International and the Consortium, said: "We are eager to begin transforming into reality the architectural end engineering solutions that we love developing, so that futuristic projects like AeroDream can see the light of day."

A singular concept, adaptable to customers' changing tastes and needs.

Rêveport/AeroDream will bring a number of unique elements together under the same roof, inviting visitors to relax and travel to worlds of the imagination, on amazing voyages of adventure through virtual realms:

– Four or five geodesic domes equipped with spherical screens will send visitors into mysterious worlds and cruising over distant planets;
– A giant aquarium that will literally plunge visitors into fantastic undersea worlds, as they choose their own path through a tunnel made of non-deforming acrylic;
– An indoor beach, creating a tropical atmosphere and an invitation to a siesta all year long;
– A fitness centre featuring spa, hammam, sauna and bath treatments to satisfy the most demanding of customers when it comes to relaxation care;
– State-of-the-art cinemas with comfortable seating, offering a first-rate selection of films in a special Hollywood décor.

The complex's relaxing and festive atmosphere will also feature a gleaming mall/galleria; arcades offering the latest in giant-screen gaming; an aquatic-themed disco/karaoke with laser/video; gourmet restaurants, and comfortable and welcoming bars and brasseries overlooking the beach and aquarium area, but also a museum, interactive exhibition hall and television studio. Finally, there will be a children's play area including a day-care for toddlers.

Qualitative and quantitative marketing studies are currently underway to refine the concept, validate the project's market positioning and adjust the scale of its various components according to target customer preferences. Rêveport/AeroDream is noteworthy in that it will use all of the elements of the former terminal complex-including the terminal itself, the aeroquay, parking facilities and hotel (which will be renovated), as well as the administration building.

The project timetable calls for the hotel renovation to be undertaken first; it will serve as a showcase for the Rêveport/AeroDream project. Work on the hotel would begin by June 2006 with a fall 2006 target completion date. Conversion of the terminal would start in fall 2006 as well, aiming at a phased-in opening by the end of 2007. The memorandum of understanding calls for the Consortium to sign a lease
with an initial term of 25 years and two renewal options of five years each. A draft project proposal has already been submitted to Transport Canada.

About I-Parks-Oger International Consortium
The Consortium is made up of I-Parks Creative Industries, a French company founded by Mr. Assouline and Jacques Gautherie, and Oger International, a world-leading construction engineering firm. I-Parks specializes in the design, development, financing and management of urban parks with recreational and tourism themes. The firm, whose experts have helped build a dozen or so sites since 1984, currently has several projects under development in Asia, notably in Beijing, Guangdong and Macao. These are also being completed in partnership with Oger International, which employs more than 30,000 people and is an international specialist in the management and engineering of major international projects featuring a high degree of technology.