Paramount plans $US 2.5 billion UAE theme park
Paramount Pictures Corp will develop a $US 2.5 billion resort and theme park in the United Arab Emirates to rival a similar project being developed by Universal Studios.
Paramount movies including Titanic, The Godfather and Mission Impossible will brand the development, which is being funded and built by Ruwaad Holdings, a UAE developer embarking on its first project. Ruwaad will be responsible for the funding and Paramount will provide the intellectual capital.
Universal Studios have also announced plans to develop theme parks in the UAE at a combined cost of more than $US 5 billion
(Source Bloomberg June 29 2007)