Called Aqua Dunya, the 743,000sq m (8 million sq ft) complex will be centred around a 407m-long cruise ship and will include a conference centre and 170 vacation apartments as well as 3,400 residential apartments.

The vessel, called Desert Pearl, will house an indoor theme park and a waterpark, as well as a 330-room luxury hotel which will be operated by Dubai-based hospitality group Jumeirah.

Construction at the site is expected to begin in January 2006 with the first phase due for completion in early 2008.

Further plans for the site – scheduled to open by 2014 – include an Adventure Reef attraction, a souk, a waterfront esplanade and a 400-room Polynesian-themed luxury hotel.

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