Abu Dhabi is preparing ground for the construction of a Warner Bros theme park on Yas Island, said a report.

In collaboration with regional developer Aldar Properties, Warner Bros plans to construct a theme park with 19 rides, a hotel and multiplex hotels, said a report in Arabian Business.

The American entertainment giant also intends to collaborate with other firms to finance films and publish video games.

Partners Aldar and Abu Dhabi Media Company will jointly invest 50 per cent in the project while Warner Bros invests the remaining 50 per cent.

The theme park is the first project to be developed under the deal and initial work on the site is currently underway, the report said.

Parties to the agreement will also get opportunities to develop the business, such as opening of production facilities, obtaining licence for digital content distribution and retail opportunities across the Gulf, it said.

A Warner Bros spokesperson said: “With our partners at Miral Asset Management, we have started initial development of the area on Abu Dhabi’s Yas Island and expect the project to be completed in 2018," the report added.