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Mohammed Bin Rashid City, popularly known as MBR City, is one of the biggest mixed-use developments and freehold areas in Dubai. Announced in the latter half of 2012 by the ruler of the emirate His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the estimated cost of the project is AED 30 billion. The development comprises of state-of-the-art tourist attractions, a hub of leisure activities, the biggest shopping centre in the world, a large-scale park, the world’s largest man-made lagoon and 45 million sq. ft. of freehold property. The project was inaugurated by His Highness Sheikh Mohammed Bin Rashid himself in May 2015.