Dubai: The future of horse racing in Dubai was unveiled yesterday with pomp and ceremony on the Beach Arena at Mina Salaam, Madinat Jumeirah.

And it looked radiant.

In two and a half years time Dubai will have a state-of-the-art horse racing city called Meydan inclusive of luxury hotels and a sky-bubble restaurant, entertainment clubs, a concourse plaza, iconic towers and a boat-house.

The timing could not have been better, with Dubai set to host the $6 million Dubai World Cup, the world's richest horserace at Nad Al Sheba today. Some of the world's best thoroughbreds will be vying for prize money totalling a staggering $21 million.

More than 50,000 racegoers are expected to watch the seven races, with the first race starting at 5pm.

Meydan horse city will also include a dirt and turf race track, new stables and training tracks, receiving barns and a Godolphin gallery and museum. Details of the project were unveiled in a presentation for His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Also present was Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman of Emirates Group. A senior Emirates Racing Authority official said the project's deadline is October 2009.