MENAFN -  June 03, 2009

(MENAFN) France and the United Arab Emirates formally launched the Desert Louvre project, bringing the iconic cultural name and its tourist pulling power one step closer to the oil-rich Gulf, AFP reported.

Under a 30-year agreement, Abu Dhabi will pay 400 million euros for the Louvre brand name and for hundreds of artworks loaned from the Paris museum for periods of between six months and two years

The new museum on Saadiyat (Happiness) island off Abu Dhabi, the UAE capital, has been designed by French architect Jean Nouvel.

It will be housed in a 24,000-square-metre building topped by a dome inspired by traditional Arab architecture.

The Louvre Abu Dhabi is one of five museums to be built on Saadiyat island, a vast complex of luxury hotels, golf courses, marinas and private villas set for completion in 2018.