Mohammed bin Rashid City, popularly known as MBR City, is one of the largest freehold and mixed-use development areas in Dubai. The project was established by His Highness Sheikh Mohammed bin Rashid in May 2015. The development includes the best tourist attractions, an entertainment centre, the world's largest shopping mall, a massive park, the world's largest man-made lagoon and 45 million square feet of freehold property. This is announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of the Emirate, in the second half of 2012, the estimated cost of the project is AED 30 billion.