Meraas Holding launches $2.7bn-worth Dubai Parks & Resorts project
Motiongate Dubai, Bollywood Parks Dubai, and LEGOLAND Dubai to be constructed by 2016
Dubai-based real estate developer Meraas Holding has revealed the blueprint for its $2.7 billion Dubai Parks & Resorts project, which will be constructed in the emirate’s Jebel Ali area and is scheduled to open by 2016.
The project has been launched under the directive of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, as part of the emirate’s Dubai Tourism Vision 2020.
The first phase of Dubai Parks & Resorts will comprise three theme parks, namely Motiongate Dubai, Bollywood Parks Dubai, and LEGOLAND Dubai. The development will also feature a grand entrance plaza called Riverpark, and a hotel called Lapita that is targeted at families.
The first phase is scheduled for completion in 2016. On-site groundwork had commenced in February 2014.
“Dubai Parks & Resorts has been designed as the first-of-its-kind entertainment destination that simultaneously opens the gates of three theme parks,” Raed Al Nuami, CEO of Meraas’ newly formed subsidiary Dubai Parks & Resorts Limited said.
“The project will feature leading intellectual properties from elite industry players to create leisure and entertainment concepts that are expected to draw more than five million residents and tourists annually.”
Dubai Parks & Resorts has been designed to serve the regions that are within an eight-hour flying distance from Dubai.
Meraas had announced its plans for the project late in 2012. In the years since, the company has finalised key components and partnerships with construction firms, theme park operators and global movie studios for the creation of Dubai Parks & Resorts’ design.
Commenting on the new project, Abdulla Al Habbai, chairman of Meraas Holding, said: “Meraas is committed to developing new concepts to build Dubai’s position as one of the world’s great new cities.
“At Meraas, we are excited to signal the start of an ambitious destination that is anticipated to generate thousands of new jobs within the entertainment sector.”
