In the latest big deal announced in the Gulf; DreamWorks Animation signed a megabucks strategic alliance with the UAE’s real estate company Tatweer to develop a range of tourism and leisure projects in Dubai, the highlight of which is to be an enormous amusement park, developed around Dreamworks’ movie stars, Shrek, Chicken Little , the creatures from Madagascar and the soon-to-be-released "Kung Foo Panda."
The DreamWorks/Tatweer deal is only one of a string of similar moves coming out of the Midde East as it enjoys the benefits of high oil prices, a construction boom and expanding economies.
Other notable moves have seen Viacom subsidiary Paramount sign a licensing deal worth $2.5 billion with Ruwaad Holdings to turn Paramount properties such as "Mission: Impossible" and "The Godfather" into Dubai-based amusement parks and rides.
Universal is also embarking on a $2 billion project (again with Tatweer) to build " Universal City Dubailand, " which will include hotels, restaurants, retail outlets and of course a massive -150 acre- Universal theme park. Marvel and Nickelodeon are also involded in the creation and/ or enhancement of further U.A.E. amusement parks.