Dubai-based Al Habtoor Group has revealed plans to create one of the Middle East's most luxurious hotels & entertainment developments.

To be located on the Sheikh Zayed Road in Dubai, the new 1 million sq ft (92,000sq m) complex will be built opposite Al Safa Park.

Plans include the building of three luxury hotels with a combined of capacity of more than 1,600 bedrooms. The cost of the complex is estimated at AED 4.875bn (US$1.33bn, €1.02bn, £854m).

Exact facilities are yet to be confirmed, but a spokesperson said that there will be a large luxury "serenity spa", multiple themed restaurants, 50,000sq ft of banqueting and meeting facilities, an international designer brands shopping arcade and a unique and new landmark theatre.

Khalaf Al Habtoor, chair of Al Habtoor Group, said: "An investment of this magnitude will encourage other likeminded businessmen to regain their faith and will definitely send a very strong message to the national and the international communities that will help stimulate foreign direct investments from institutions and individuals alike."

John R. Harris & Partners have been appointed project architects with Khatib & Alami Consolidated Engineering Company as lead design consultants.

For the full press release regarding the project, click here