Looks like the rich Middle Eastern dudes are not even spared the global economic crisis.

The world’s first Formula One theme park at Dubai which is slated to be completed this year is pushed back to 2010.

This is due to the lack of funds it seems.

The $460 million theme park construction was halted when the banks was not willing to loan any more money.

Simon Azzam, the chief executive of Union Properties, the company building the Formula One theme park said, “Due to the financial crisis and lack of liquidity from the banks, we have no choice but to postpone the project until 2010. We can still open at the end of 2009, but it is critical to get finances within weeks rather than months”