Hollywood style theme park set for UAE

Ruwaad Holdings has linked up with Paramount Licensing to develop a Paramount Pictures-branded theme park in the UAE.

NEWS, Business

Ruwaad Holdings has entered into a long term licensing agreement with Paramount Licensing for the development of a Paramount Pictures-branded theme park in the UAE.

The US $2.5 billion destination resort will feature rides, shows and attractions based on Paramount's Hollywood heritage and library of motion picture titles. The development will also incorporate boutique hotels, themed retail areas and adjoining lifestyle properties. Under the terms of the agreement Ruwaad will fund the development and Paramount will provide access the Paramount Pictures intellectual property library as well as overseeing the planning and design aspects.

The developers are currently searching for a location for the development. "We have a feasibility team on the ground right now and are looking at a number of promising locations," said Hayan Merchant, CEO, Ruwaad Holdings. "We can talk about construction related timelines and specifics of the project once this has been established."

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