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UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced the establishment of a new city within Dubai, setting new benchmarks in urban development in the region. The ceremony was attended by Dubai Crown Prince HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and Dubai Deputy Ruler HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum.  Comprising four key components, the new city, which will be called "Mohammed Bin Rashid City", will feature world class leisure facilities and provide an integrated environment for the development of entrepreneurship and innovation. The first component focuses on family tourism, and will include a park that is equipped to receive 35 million visitors and the largest family center for leisure and entertainment in the Middle East, Africa Indian subcontinent and region. This center will be set up in collaboration with Universal Studios and include over 100 hotel facilities to meet the needs of visitors from the region. The second component, focusing on retail, will feature the largest shopping mall in the world. The third component will include the largest area for arts galleries in MENA. The fourth component will see the development of a unique area that will provide an integrated environment for entrepreneurship and innovation in the region. The new city will be located between Emirates Road, Al Khail Road and Sheikh Zayed Road, and will include Mohammed bin Rashid Gardens Project. It will be connected to Downtown Dubai and Business Bay through a crossing that will be named the "Cultural Crossing" which will include art galleries and create the largest area for arts in the region. "Mohammed Bin Rashid City” will feature a massive park which will be 30% bigger than Hyde Park in London. It will be surrounded by the largest mall in the world called "Mall of the World", which will be capable of receiving 80 million visitors a year, and include over 100 hotel facilities to meet the requirement for accommodation. "Mall of the World" will be connected to a family entertainment center which will be developed in collaboration with Universal Studios International. This center will be the largest in the region and is expected to attract 10 million visitors each year.