Abu Dhabi plans $1B Warner Bros. theme park

DUBAI, United Arab Emirates -The United Arab Emirates has announced plans for a $1 billion Warner Bros. theme park in Abu Dhabi, which will bring to the Middle East the studio's popular superheroes and cartoon characters ranging from Bugs Bunny and Scooby-Doo to Batman and Superman.

The first phase is scheduled to open in 2018 and will include a Warner Bros. branded hotel on Abu Dhabi's Yas Island, which is currently home to a Formula 1 race track, Ferrari World amusement park and waterpark. The project's developer is Abu Dhabi's Miral Asset Management. The project was joint announced Tuesday by Warner Bros. and Miral

The UAE, already a major tourist destination, is looking to drive up its tourism revenue with other eye-popping projects. Dubai has plans for a $3 billion theme park with a Six Flags, a Bollywood-themed amusement area and Legoland.