By NNN-KUNA
Dubai : A Kuwaiti-Saudi real estate consortium has announced plans for building a new project called Desert Kingdom in Dubai Land (as in Disney Land) with an investment of up to UAE Dirhams 3.4 billion (USD 926.4 million).
The consortium includes the Kuwaiti Ruzeihan group and Saudi’s Al-Hekeir.
According to a statement issued Sunday by the chairman of the board of directors of the joint venture, Badr Fahd Al-Rezeihan, Desert Kingdom is due to be completed in 2010 and would then include a traditional Arab-style commercial centre similar to such centres depicted in old Arabian stories and a housing complex with some 500 units.
The statement said the project would also comprise five hotels distributed throughout the project as well as an amusement area stretching over 40,000 sq m and bearing the name of Arab lost cities.
As for the commercial centre, it includes restaurants, a cinema, a convention centre and a stage theatre.
“The project is distinguished by a creative style bringing together the Arab legendary past with a modern vision pictured mostly in the project’s hotels,” Al-Rezeihan said.
He added that the blueprints for the project are “in their final stages.”