Plans have been revealed for a AED1.8 billion ($490 million) development in Dubai to feature amusement parks, apartments, shops, restaurants and a cultural centre.
Ento Capital Managment, 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 2.4 million sq ft project will be executed in phases and will also include two furnished apartment blocks, he said, without giving further details.
He added that Wonder 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.