UAE. DreamWorks Animation is the latest Hollywood major to plant its
flag in the UAE, signing a multi-billion dollar strategic alliance with
real estate company Tatweer to develop in Dubai a range of tourism and
leisure projects, the highlight of which will be a theme park.
The five million-square-foot DreamWorks Animation-branded park will
see rides incorporate characters from DreamWorks titles such as the
"Shrek" franchise and upcoming "Kung Fu Panda."
Other aspects of the DreamWorks-Tatweer partnership call for
DreamWorks-themed restaurants, hotels and retail outlets to be built
across the region.
"We are thrilled to bring the first DreamWorks Animation-dedicated
theme park to Dubai," said DreamWorks Animation CEO Jeffrey Katzenberg.
DreamWorks' push into the region marks the latest in a rush of
deals involving Hollywood studios and UAE-based real estate developers.
Tatweer announced in May 2007 a US$2 billion deal with Universal
Parks and Resorts to build Universal City Dubailand. The 505-acre
development, which will include a 149-acre Universal theme park along
with a range of hotels, restaurants and retail outlets, will open in
2010.
In April, UAE-based real estate concern Al Ahli announced a deal
with Marvel Entertainment to bring Marvel's full library of superheroes
- including Spider-Man, the X-Men and the Incredible Hulk - to Dubai
for a US$1 billion theme park to open in 2011.
Then, days later, Al Ahli unveiled another long-term partnership
with Nickelodeon that will see such Nickelodeon properties as
"SpongeBob SquarePants" and "Dora the Explorer" join the Marvel
characters in the park.
And in June, Paramount signed a licensing deal worth US$2.5 billion
with Ruwaad Holdings to turn Par properties such as "Mission:
Impossible," "Top Gun" and "The Godfather" into a series of Dubai-based
parks and rides.
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