Indian film company Yash Raj Films has agreed a multi-million dollar joint venture with Dubai Infinity Holdings to create a Yash Raj branded entertainment area in Dubai.

Yash Raj is India's largest film brand and the Yash Raj Films Entertainment District will include theme park attractions, a movie palace, themed hotels and other Indian genre entertainment concepts.

Samira Abdulrazzak, CEO of Dubai Infinity Holding, said: "This is both an encouraging and exciting step for us. Bringing such a honoured name into the UAE has been a strategic move as it attracts the core demographic of the country.

"Furthermore, Indian Cinema has an increased general following within the region, as cinema statistics highlight that Bollywood films gross higher than western films.

"This will be a one of a kind partnership here in the UAE, which we are very proud to be associated with."

"The UAE and India have always had a strong relationship in various business sectors and now this Joint Venture is a further step towards cementing business opportunities for both countries by bringing India's most prestigious entertainment brand here."

The first phase of the Yash Raj Films Entertainment District is scheduled to be completed by 2012.

Dubai Infinity Holdings has previously unveiled plans to create Isla Moda, the world's first island dedicated to fashion.