The IMG Worlds of Adventure is designed to attract up to 20,000 visitors per day on completion early 2014, and 20 million visitors annually by 2020.
The IMG Group recently told reporters that a basic frame with structural columns had been erected for the development and off-site ride in various sites were under-way and shipments were expected to arrive by end of the year.
“With the structural columns in place, we have entered a new phase of development. IMG Worlds of Adventure is one of the most anticipated developments in the region offering a number of world firsts which will position Dubai on the global map as a themed entertainment capital,” the company said.
The IMG Group did not revealed the actual costs of the IMG Worlds of Adventure. In May 2012 lenders Al Hilal Bank and Mashreq said they had closed a shari’ah fund facility to help finance the theme park.
The project, which was initially launched in 2005, was scheduled for completion in 2010 but was postponed after the global economic crisis took its toll on the then booming Dubai construction industry.