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After Dubai Holding announced its plans to build the world’s largest temperature-controlled city as a part of its 48 million square foot Mall of The World, it has been found that the total construction cost for the mall could cost up to a massive $6.8 billion over the next 10 years.

Speaking to Reuters, Ahmad bin Byat, CEO of Dubai Holding said there was a certain demand for such projects in the region. Construction of Mall of the World, which will span the next ten years, will require an investment of $680.6 million per annum.

“That ($6.8 billion) is how much it will cost when it’s ready,” local daily The National reported. “That is in about 10 years, so we are talking about a requirement of about $680 million every year for the next 10 years.

“The way things are growing I think we are barely coping with the demand,” he continued. “Tourism is growing in Dubai. This (Mall of the World) is a long-term project and we are betting strongly on Dubai.”

At least half the investment is expected to be funded through internal resources, the report continued. Additional funds could be drawn from the debt market, sales of some parts of the project, partnerships and leasing revenue.

Once completed, the Mall of the World is expected to be a year-round tourist destination, with a projected footfall of 180 million visitors annually.