Dubai to build $2.7bn entertainment complex with five theme parks

The ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, on Monday approved the $2.7bn development that will focus on delivering a multi-faceted leisure and entertainment experience to residents and tourists of Dubai, according to a statement.

Dubai-based developer Meraas Holding has been selected to develop the project, the first stage of which is expected to be completed in 2014.

The development will be anchored by Dubai Adventure Studios, which will host popular Hollywood brands and showcase a range of 'adrenalin-challenging' rides.

Another park, called Bollywood Parks, will focus on India's film industry. Meraas says it has partnered with several major film studios in Mumbai for leveraging content, while a large theater within Bollywood Parks is expected to showcase Broadway style musicals.

The complex will also offer a water park, children's park and a night safari. The parks will be connected by a district featuring themed hotels, as well as retail and dining offerings.

Abdulla Ahmed Mohammed Al Habbai, Chairman of Meraas Holding, said: "Meraas has been working with several industry experts to bring together a powerful mix of components that fulfill the need for a pure entertainment-based destination. The new initiative comes in response to Dubai's status as a top global touristic destination which will contribute to the growth of the economy.

"With work on critical infrastructure including transport links gaining speed in the emirates, Dubai's projections for the tourism sector are optimistic and well-founded. We expect the comprehensive offering to set a new benchmark within the leisure and entertainment industry and offer tourists one more reason to visit Dubai."

The project is the latest in a series of ambitious developments that have been announced in Dubai in recent weeks. On Saturday, Sheikh Mohammed announced plans for a tourism and retail development that would include 100 hotels and the largest shopping mall in the world.

On Sunday Sheikh Mohammed ordered the start of the second phase of the tallest hotel in the world, the JW Marriott Marquis Dubai on Sheikh Zayed Road.