An Abu Dhabi-based business group has proposed development of a Rs 18,400 crore integrated theme park comprising a recreation, business and residential township not very far from Bangalore International Airport.
The ''Space City,'' as it has been dubbed by the promoters, will provide a Disneyland-like entertainment spread over an area of 1,600 acres hub within the integrated township. The project will be located on land spread over three villages in Bagepalli taluk of Chikkaballapur district.
The project envisages 7,200 residential units, a city centre with a techno city, media city, media design centre, fashion hub and exhibition halls. The free zone office tower house offices, star hotels, an exhibition hall and a convention centre.
Marib Infrastructure India Pvt Ltd (MIIPL), the project's promoters sold successfully sold the project to the Karnataka government which has a couple of weeks back organised the ''Global Investors' Meet'' to attract investments in Karnataka.
On Saturday, the proposed project received the government's high level committee on investments' headed by CM Yeddyurappa, its in-principle approval.
According to Murugesh Nirani, industries and commerce minister, the project would come up in Hosahudiya, Adiganapalli and Narepalli villages of Bagepalli taluk, which is about 70 km from the Bangalore International Airport. The project on implementation would provide employment to 20,000 people, he added.