Dubailand was an entertainment complex planned to be built in Dubai, United Arab Emirates, which was owned by Tatweer (which belongs to Dubai Holding). When announced in 2003 it was one of the most ambitious leisure developments ever proposed anywhere in the world costing $64.3 billion. The development was put on hold in 2008, due to the 2008 financial crisis, Great Recession, and the Dubai housing crash in 2009, but resumed in mid-2013. Updates in 2013 showed that $55 billion had been raised towards the works. Some projects were cancelled, although Dubailand has since become the name of an entertainment district in Dubai where some of the planned projects for the Dubailand complex have opened. Other projects are being built and are planned to open in 2025.