DUBAI theme park w/oil $$$

Dubai appears to heart spending their oil money in big ways!

We mentioned on Friday that Madonna is rumored to be getting $25 million to do two concerts there.

And now, a new report calls attention to the billions of dollars Dubai is sinking into American-style theme park projects.

Eight major licensing deals have been struck between oil-rich investors and entertainment giants such as Paramount Pictures and Marvel Entertainment Inc. for theme parks and other attractions.

The first big theme park is set to open in 2010 - a $2.2 billion Universal Studios park based on franchises such as King Kong and Jurassic Park. It will be part of an area dubbed Dubailand on the city's desert outskirts.

Next after that, a $1 billion Marvel Entertainment Inc. theme park will open in Abu Dhabi by 2011.