Dubai, famed for its mega-projects before it was hit by the global financial crisis, has announced a new development to open the world's biggest mall and a park larger than London's Hyde Park.
The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a "new city within Dubai," according to an official statement on Saturday, naming it after himself.
No cost was stated for "Mohammed bin Rashid City," to be carried out by his Dubai Holding and the publicly-listed Emaar Properties, which developed many of Dubai's prestigious projects, including Burj Khalifa, the world's tallest tower.
The plan also features new residential areas, although the emirate continues to have a surplus of units built during a five-year bubble which burst in 2009.
Advertisement The "Mall of the World" will have a capacity of 80 million visitors a year to become the "largest in the world," said the statement, while its park will be "30 per cent bigger than Hyde Park of London."
The mall will be connected to a family entertainment centre to be developed in cooperation with Universal Studios International that will be the largest in the region, aiming to attract six million visitors a year.
I know there are a lot of abandoned/suspended theme park projects in Dubailand, but it looks like Universal Studios Dubai might be back on.... Who else will follow?