Dubai to launch $490m amusement park development
The 22.3ha project will feature amusement parks, apartments, shops, restaurants, and a cultural centre and will be carried out in phases
Work on a $490m (AED1.8bn) theme park complex is slated to start by the end of the first quarter of 2017.
Plans have been revealed for the project in Dubai, which will feature amusement parks, apartments, shops, restaurants, and a cultural centre, Arabian Business reported.
Ento Capital Management, an investment company licensed by the Dubai Financial Services Authority (DFSA), said it is geared to reconstruct the Wonder Land project, located on Al Riyadh Street.
Hayssam El Masri, CEO of Ento Capital, said the project is slated to start by the end of March and would take three years to build.
The 22.3ha project will be carried out in phases and will also include two furnished apartment blocks, he said.
He added that Wonder Land Park is currently in the process of obtaining preliminary approvals from Dubai Municipality.
“The project will be one of the most attractive entertainment destinations in the region, attracting visitors from all over the world and enhancing the status of the emirate on the world’s map of leading entertainment centres,” said El Masri.
He added that the company will enter into a number of partnerships with real estate firms for the project.