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Dubai is set to construct a luxurious moon-themed resort worth $5 billion by the end of this decade, reports the Arabian Business.
Co-founded by Sandra G. Matthews and Michael R. Henderson, Moon World Resorts Inc has designed the structure that will have an overall height of 735 feet.
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According to the co-founders, the resort will boost the Emirate's economy and upgrade several sectors, such as entertainment, tourist attractions, technology, hospitality, and space tourism.
The report says that an estimated 2.5 million visitors per year will be able to experience space tourism in Dubai.
According to Mathews and Henderson, Moon Dubai will be the largest and most successful modern-day tourism project in the Middle East/North Africa region.
Also Read: United Arab Emirates Takes Steps To Regulate Crypto After Being Placed On Watchlist
The Moon Dubai resort will accommodate a training platform for various space agencies.
The resort will also have 300 "Sky Villas," which will each be a private residence on "the Moon."
The UAE is researching business potential related to celestial bodies and developing satellite communication technology. According to the Arabian Business, the country has committed $820 million to fund its space plans.
Dubai is known for its ambitious architectural projects.
Architecture firm ZNera Space has proposed a conceptual design featuring a massive five-story circular structure wrapped around the world's tallest skyscraper, the Burj Khalifa -- which is 2,723 feet tall, almost double the height of the Empire State Building.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.