Dubailand, Dubai's ultimate leisure destination, has attracted Dh18 billion, or more than 50 per cent of the intended Dh35 billion investment so far.

It has also expanded by at least 50 per cent in terms of land usage, project value and scope of work from the original plan, Salem Bin Dasmal, Dubailand's chief executive, told Iranian Business Council members yesterday.

"Dubailand will now spread across three billion square feet, attracting an investment of Dh35 billion when completed," he said.

The complex was earlier expected to cover 2 billion square feet entailing an investment of Dh18 billion. Of this, Dh2 billion was expected to go into infrastructure development.

"We are investing Dh3 billion from our resources in developing infrastructure."

The project, Bin Dasmal said, will be developed in four phases extending until 2020.

"Once completed, it will house 300,000 residents and cater to more than 200,000 visitors daily," he said. The project was originally conceptualised by the Dubai Development and Investment Authority and developed by the Dubai Tourism Development Company (DTDC). It was later brought under Dubai Holding. DTDC has been replaced by Dubailand LLC, Bin Dasmal said.

"The entire complex will be managed by Dubailand LLC, which will require 50,000 professionals to maintain the sites," he said.

"We will build our destination in line with the Dubailand branding."

Design and infrastucture works are currently being carried out by Halcrow, which has completed extensive studies and designs and redesigned the road networks that will be needed to handle the traffic.

Dubai International Capital last month agreed to acquire the Tussauds Group, the largest operator of visitor attractions in Europe, which is currently controlled by funds advised by Charterhouse Capital Partners LLP. The transaction values Tussauds at £800 million.

"It will add attractions to Dubailand's existing features and create a world class leisure tourism facility for international visitors," Bin Dasmal said.

He however, could not give any definite timeline on the Tussauds Group's project at Dubailand. As both Dubailand and Tussaud Group belong (pending acquisition) to Dubai Holding, the possibility of the Tussaud Group's large involvement in Dubailand remains strong.