Dream Island in Moscow back on track with $657m construction loan

Dream Island, a $1.5bn indoor theme park under development in Moscow, is back on track following the approval of a $657m loan by bank VTB to fund the construction.

Approved by the Moscow government in 2015, Dream Island was originally scheduled to open in 2018 but lack of funding caused delays. The seven-year loan will allow work to continue with an expected opening in 2019.

The 100-hectare development is being led by Regions Entertainment in partnership with Viacom, Sony and Soyuzmultfilm. It will include an amusement park, concert hall, cinema, hotel, restaurants, park, river walk and a yachting school.

The amusement park will be split into 10 themed zones with nine announced so far – Smurfs Village, Teenage Mutant Ninja Turtles, Hotel Transylvania, Lost World of Dinosaurs, Snow Queen’s Castle, Racing Cars Land, Princess Castle Land, House of Horror and House of Papa Carlo.

Each zone will have its own rides and attractions with 40 different activities in total. One of the rides will be a drop tower in Teenage Mutant Ninja Turtle Land. The park is expected to attract 50 million visitors annually.