Development
Universal Studios Dubailand was a joint venture costing over 8 billion dirhams ($2.2 billion US) between Universal Studios and Tatweer, a subsidiary of Dubai Holdings. The theme park was announced on April 30, 2007 with a theme park plan that expected to attract 5 million visitors annually and was scheduled to be completed in 2010.
The project broke ground July 27, 2008, but the global financial crisis at the time prompted the developers to announce that they would delay further development, and push back the opening until at least the first quarter of 2012. However, no construction work on the project site has been reported since at least early 2009. As of mid-2012, the only public evidence of the project is a gate bearing the Universal Studios logo.
The identity of the Dubai joint venture partner is no longer clear, as Tatweer was dissolved in mid-2010, with most of its assets merged into TECOM or other members of Dubai Holdings.
In April 2011, Universal was once again in talks with Dubai officials about finishing the Universal park. However, as of late 2012, there had still not been any construction progress on the proposed site.
In late November 2012, Dubai's ruler, Mohammed bin Rashid Al Maktoum, announced Dubai's renewed intentions to invest in an array of development projects in the desert just outside central Dubai, including the world's largest mall and an attached Universal Studios branded "family entertainment centre".
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Famous quotes containing the word development:
“Sleep hath its own world,
And a wide realm of wild reality.
And dreams in their development have breath,
And tears, and tortures, and the touch of joy.”
—George Gordon Noel Byron (1788–1824)
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—Ellen Galinsky (20th century)
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—Benjamin Harrison (1833–1901)