DUBAI, 15 September 2005 — Marking a milestone phase in the development of the $3.8 billion Legends integrated theme park project in Dubailand, the leading Saudi Arabia-based business entity, Tanmiyat Investment Group (Tanmiyat) announced that it has acquired the full residential and commercial components of the development at an investment of $2 billion.
Living Legends and Trade Legends are two of the six salient components of the Legends project in Dubailand, and will encompass an array of luxury villas and apartments which will be sold both at the retail level and as land parcels to developers. Addressing a joint press conference jointly organized by Gulf Finance House (GFH), the driving spirit behind the Legends project and Tanmiyat, in Dubai yesterday, Esam Janahi, chief executive officer (CEO), Gulf Finance House, said: “The Dubailand project is a path-breaking development that, upon completion, is expected to attract almost 15 million tourists a year.”
Janahi further said that the Legends project was spread over 24.7 million square feet in Dubailand, and would be an incredibly unique entertainment project that blends technical ingenuity with the thrills of fantasy. “The Legends project is the first-of-its-kind integrated resort-cum-theme park development in the Middle East, combining entertainment, leisure, retail, residential facilities as well as commercial property under one canopy, while recreating the magic of Arabian mystic in all its hues.”
At the core of the Legends project are three world-class theme parks, which together will constitute one of the largest, climate-controlled theme parks in the world. The three theme parks at Legends-Dubailand are Legends of Arabia, Legends of Nature and Legends of the World — all of which are inspired by the magic of mythology, natural wonders, and sensational places on the planet.
Elaborating on the Living Legends residential community, Sulayman A. Al-Majed, Chairman, Tanmiyat said: “We are delighted to expand our association with the Legends development through this exclusive mandate for Living Legends. We are indeed confident that the differentiating factors of Living Legends — a first-of-its-kind community, comprising of over 2,300 residential units including luxury villas and apartments, in the heart of a theme park development - will be a big draw among investors.”
Sulayman further said that Tanmiyat has launched an aggressive marketing campaign for Living Legends across the region.
