Yash Raj Films, promoted by filmmaker Yash Chopra, has signed a joint venture with Dubai Infinity Holdings, an investment company, to create YRF Entertainment District in Dubai.
The entertainment district will house theme park attractions, a movie palace, unique hotels and many other unique Indian genre entertainment concepts themed around the YRF banner.
The first phase of the district is scheduled to be completed by 2012, said Yash Chopra, chairman, Yash Raj Films.
However, details of the investment were not disclosed.
"When YRF decided to venture into the theme park business, we found Dubai to be the most strategically attractive location. Dubai has a booming tourism industry and aims to be the most visited destination in the world by 2015. Also, the UAE has a huge fan following for Indian films and are watched and cherished not only by the Southeast Asian diaspora, but also by the local population.
"We are happy to partner Dubai Infinity Holdings in making our foothold stronger in the region," Chopra said. The partnership agreement was inked by Yash Chopra and Samira Abdulrazzak, CEO, Dubai Infinity Holding.
"This is both an encouraging and exciting step for us. Bringing such a prestigous name into the UAE has been a strategic move as it will attract the core demography of the country," said Abdulrazzak.
Yash Raj Films, which started off as a production house in 1970 churing out blockbusters like Silsila, Kabhi Kabhie, Chandni, Lamhe, Darr, Dhoom 2, among others, has come a long way.
Over the years, the company has grown to become a one-stop shop for entertaintment - from running a studio to distributing films, launching its music label (Yash Raj Music) and the home entertainment label for releasing movie DVDs and VCDs.
Last June, Chopra made the headlines by becoming the first company to tie up with US-based Walt Disney Studios for a series of computer-animated feature films for Indian audiences. The first animation film under this alliance Roadside Romeo is slated for release in October.
Yash Raj Films has five releases this year -- Tashan (released), Roadside Romeo, the Ranbir Kapoor and Deepika Padukone-starrer Bachna Ae Haseeno, Shah Rukh Khan's Rab Ne Bana Di Jodi and Kunal Kohli's Thoda Pyaar Thida Magic featuring Saif Ali Khan and Rani Mukherjee.