Dubailand is an entertainment complex being built in Dubai, which is owned by Tatweer (which belongs to Dubai Holding). When announced in 2003 it was one of the most ambitious leisure developments ever proposed anywhere in the world costing 64.3 billion, but development has been severely impacted by global recession and Dubai’s financial crisis. The development was put on hold in 2008 and as of late 2011 has not resumed.
The Dubailand project was officially announced on October 23, 2003. Dubailand will have an area of 278 km2 (107 sq mi) and include 45 “mega projects” and 200 sub projects. To date, there are currently 22 projects under development. Dubailand is divided into seven zones (worlds): Attractions and Experience World, Sports and Outdoor World, Eco-Tourism World, Themed Leisure and Vacation World, Retail and Entertainment World, LEGOLAND Dubailand, and Downtown. It will be twice the size of Walt Disney World Resort, and will be the largest collection of theme parks in the world; however, no theme park in Dubailand will surpass Disney’s Animal Kingdom (located at Walt Disney World Resort) as the world’s largest theme park. Private reaction towards the project has been positive and Dubai has exceeded the $20.9 billion private investment figure it expected on the entire project by collecting approximately $55 billion from the private sector for the first phase.
Dubailand is seen by its designers as a city and therefore like a city they expect it to continue to grow and develop beyond the four phase plan.
The Sahara Kingdom theme park, situated in the Attractions & Experience World, will cover 460,000 m2 (4,951,399 sq ft) and will combine high end virtual and physical theme park rides, attractions such as a state of the art gaming zone, IMAX theater, and integrated live and virtual entertainment shows, together with a retail zone, four hotels and residential accommodations. The theme of the development is traditional Arabian folklore and the tales of One Thousand and One Nights.
[caption id="attachment_1982" align="aligncenter" width="460" caption="The number of homeowners is set to fall by two million, the study says. Photo: James Boardman/Alamy"][/caption]Major study by the Smith Institute warns that a fall in home ownership will add to the burden on the state.
The number of people who own homes is set to fall by almost two million by the middle of the next decade, l...
Office rents in Germany increas in 2011 by two percent. At the same time the vacancy rate falls to 11.2 percent. This is one of the results of the current "Deka Real Estate Monitor". One reason is the sharp rise in German economic performance. Also the solid labor market provides greater demand for space. In addition to support rising wages and higher inflation support the rent growth. "The growth...