Dubai ruler puts high hopes on entertainment parks for tourism boost

The Emir of the Sheikhdom of Dubai puts high hopes on entertainment parks for tourism boost, as the 2.72 billion dollars resorts project set to be completed by October 2016, Dubai daily Emirates 24/7 reported.

Located between Dubai and Abu Dhabi, the 25 million square feet large area includes the Hollywood-inspired theme park Motiongate, Dubai Bollywood Parks and Legoland.

Sheikh Mohammed Bin Rashid Al-Maktoum, the Emir of the Sheikhdom of Dubai, and also the Vice President and Prime Minister of the United Arab Emirates (UAE) said while touring the construction site "the parks will enhance the UAE position as the first family destination worldwide."

Upon his arrival, Sheikh Mohammed inspected the plans and designs of what is to be a-first-of-its-kind entertainment tourist and family destination in the region.

The project is set to offer premium facilities and is poised to attract visitors, artists and intellectuals from across the globe.

The project of Dubai Parks and Resorts, whose shares are traded on the local Dubai stock market DFM, includes the Hollywood-inspired theme park Motiongate, Dubai Bollywood Parks and the Legoland, in addition to a water park catering to families and their children.

The three-theme park will be linked to Riverland Dubai, a district of for souvenir shops and hospitality establishments like restaurants.

The latter district also hosts a hotel in Polynesian style. Sheikh Mohammed was joined by his uncle Sheikh Ahmed Bin Saeed Al-Maktoum, the Chairman of Dubai Civil Aviation, Chief Executive of Emirates Group and Chairman of Dubai Expo 2020 Higher Committee and Minister of State for International Cooperation and Director General of Dubai Expo 2020 Bureau Reem Al-Hashimy.

In the last 12 months, Dubai Parks and Resort shares have gained 41.38 percent in valule.

Dubai Parks and Resorts is located a 10 minutes drive from Dubai's second airport Al Maktoum International which is posied to become the world's biggest civil aviation hub, capable of handling 220 million passenger per year within six to eight years.

Dubai welcomed in 2015 over 14.2 million visitors, up 7.5 percent year on year. In 2020, when Dubai will host the six-month World Expo as the first city in the region, the emirate aims to lure 25 million tourists.

Dubai awaits also the opening of the world's largest themed indoor entertainment park IMG Worlds of Adventure which is expected to open this year.

Earlier last week, Dubai's neighbor emirate Abu Dhabi, also the capital of the UAE, announced the construction of the one billion dollar Warner Bros. themed fun and adventure park set to open by 2018 on Yas Island near the capital.