Earlier, is was reported that a plot of 22 hectares in the area was to be used by the Bin group of companies for theme park construction, and Universal Studios was to be in charge of the project’s management when it starts operating.

A representative of Moskomstoiinvest, the city’s committee for investment in development projects, confirmed that the city’s commission for urban planning and land had approved the construction of a hotel and business complex on Varshavskoye Shosse, Vedomosti reported.

First in Europe, fifth in the world

The Universal Studios park is to take some 150,000 square meters, according to the publication, and Michael Silver, president of global business development for Universal Parks & Resorts, earlier confirmed the company’s readiness to take over.

For Universal, the project is to become its fifth theme park, and its first installment in Europe.

The whole $3-billion project planned for the area of 1.2 million square meters will also include a winter garden, an aqua park and a musical theater together with hotels, malls and a business center.

Plans to build a giant theme park in Moscow have been voiced since the 1990s, but have always been stalled.