After two years of negotiating, Marvel Entertainment Inc., will be teaming up with Dubai based Al Ahli Group to develop a $1 billion theme park scheduled to open in 2011.

Manhattan based Marvel, best known for comic book figures like Spider Man, The Fantastic Four and The Incredible Hulk stated that this would be the first destination theme park in the Middle East. Marvel is also holding talks about additional projects in the Middle East.

David Maisel, Chairman of Marvel Studios and a member of the Office of the Chief Executive, Marvel Entertainment, said, "We are launching a long term relationship with the Al Ahli Group to bring the Marvel Universe to Dubai with this exciting new theme park development. Al Ahli Group has both an impressive team of theme park, entertainment and hospitality executives and the financial strength to leverage that expertise into a world-class destination resort experience unparalleled in the region. We are very pleased to be a part of this exciting initiative and look forward to a successful partnership with Mohamed Khammas and the Al Ahli Group."

The project supports Marvel’s push to become a stand-along film studio after paring up with major film studios like 20th Century Fox.

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