Thursday, August 09, 2007

Dubai to invest more towards developing Theme Parks

Plans are on to invest more than Dh.20billion for making Dubai as one of the top-most location to house the most prestigious theme parks in the world.

The ambitious target of Dubai to attract 15 million tourists by 2010 has captured the attention of even the biggest names in the global entertainment business such as the US film studios Universal and Paramount Pictures.

On completion of the projects in hand, Dubai will be the place for rides and attractions based on hits such as the 'Mission Impossible' and 'Titanic' and the emirate would no longer be only a haven for golden beaches and luxury hotels.

Paramount Pictures recently permitted Ruwaad Holdings, a real estate firm to construct a theme park in its name. It will be a Dh.9.2billion mixed-use development, featuring shopping centers, resorts, and hotels. The location for constructing the theme park is yet to be finalized. This project is expected to face a stiff competition from Universal Studios, which will help in setting up a Dh.8billion Universal City at Dubailand. The 6.5m Sq. Ft. project will be one of the largest theme parks in the world, and is expected to draw more than three million visitors to Dubai by 2010.

In the meanwhile, the Al Ahli Group, based in UAE, has entered into partnership with the American Kids TV network, Nickelodeon, to together develop its Dh.3.67 billion Dubai Amusement Park and create content for its entry into local TV entertainment. The amusement park is expected to be opened by 2011, though its location is yet to be known.

The company signed similar licensing deal with Marvel Entertainment, the owners of Spiderman and Batman comic book hero franchises.

Apart from attracting the big names abroad, Dubai is also creating its own Amusement Park themes.

No comments: