Falcon’s Beyond Global, a fully integrated development enterprise for IP-driven parks, resorts, media and merchandise, is to be involved in the launch of a theme park in Punta Cana on the easternmost tip of the Dominican Republic.

Falcon’s Beyond Global is partnering with Melia Hotels International to plan and develop what’s described as a “world-class theme park.”

The destination will be known as Katmandu and will feature entertainment, dining and retail. The project will comprise of two phases. The first will be focused on developing the Katmandu Park Punta Cana. It will combine innovative rides and experiences and bring the IP to a new audience.

Among the attractions will be a Suspended Theatre, which will immerse guests in the unique and fascinating stories of Katmandu, in what will be a world-first experience.

The $350 investment will include the upgrade at two of Meliá Hotels’ Paradisus resorts in the area.

Cecil Magpuri, CEO of Falcons Beyond Global, commented: “The size and power of the entertainment brands we will be announcing early next year as part of phase 2, are truly amazing.”

Gabriel Escarrer, vice chairman and CEO of Meliá,  shared his enthusiasm of the project, stating: “This major joint venture between Meliá Hotels International and Falcon’s Beyond in Punta Cana, an exceptional destination where we’ve been working for over 30 years, will become the first world-class theme park and entertainment destination in the Caribbean.”