The proposed Naf Tourism Park will have hotels of international standards, resort, entertainment park, mega shopping mall, cinema, water sports beach, golf club and cable car.
Siam Siam International Group, a Thai company, will invest around US$ 500 million for developing all such facilities in the park stretching across 293 acres of land in Jaliardwip, an island in the middle of the Naf River in Cox's Bazar.
The park, mainly aimed at foreign tourists, is expected to create 12,000 employments.
The Bangladesh Economic Zones Authority (BEZA), which is supervising the park's development, held a meeting with the Thai developer on Monday to discuss the latest developments regarding the project, said a statement.
BEZA Executive Chairman Paban Chowdhury presided over the meeting attended by its Executive Member Mohammed Ayub and Siam Siam International Managing Director Kiatkati Somyoth, among others.
In the tourist zone, the Thai developer will build five-star and three-star hotels, gymnasium, apartments, resort, entertainment park, museum, cinema hall, water sports beach, golf club, cable car, power plants, office buildings and mosque.
The Siam Siam International will implement the development project in phases within the next five years.
The first phase is expected to be complete in the next one and half years.
Various initiatives will also be taken to develop the island into a global-standard tourism park.
The design-work of a suspension bridge connecting the park with the mainland is at the final stage, the meeting was told.
In September last year, BEZA signed an agreement with the Siam Siam International for developing the park.
According to BEZA statement, Siam Siam has already developed several international tourism parks, water parks and cyber parks in Thailand.
It also built two entertainment parks in Bangladesh-Fantasy Kingdom in Dhaka and Foy's Lake in Chittagong-in a joint venture with a Bangladeshi firm.
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