Dubai-based developer Meydan has launched a record-breaking project that will bring Dubai the world’s longest indoor ski slope, biggest gym and tallest residential tower among a host of leisure amenities.

The 1.2km-long (0.74 miles) indoor ski slope will eclipse the current record holder, the paltry in comparison 400m (1,312ft) slope at the Mall of the Emirates, which opened in 2005. The record-smashing slope will be the centrepiece of the new complex, which will also include the 711m-tall (2,332ft) Dubai One residential tower, featuring a 350-bedroom hotel, a 420m-long (1,377ft) water feature, a sky restaurant and an observation deck.

The development also includes an indoor gym, which at 25,000sq m (269,000sq ft) will be the world’s largest, plus a 9km (5.6 mile) boardwalk, 4km (2.5 mile) canal. There will also be a 9km (5.6 mile) bike trail, a beach, a mall, plus a plaza and events space with a capacity of 60,000 people.

An area called Heritage Village will offer a number of attractions including a museum and wildlife centre, in addition to a KidZania edutainment park, a heritage school, restaurants, a visitor centre, waterpark and a food village.

The development has been valued at AED25bn (US$6.8bn, €6bn, £4.4bn) and would connect the existing Meydan complex and racetrack to the Burj Khalifa – the world’s tallest skyscraper. The entire project will house up to 78,000 people and will be completed by 2020, the year the UAE will host the 2020 World Expo.

"We have committed to developing a multi-use destination which goes beyond expectations and will cater to every kind of person living and working here, as well as those who travel from around the world to visit," said Meydan chair Saeed Al Tayer.

"This development is a forward thinking, interactive enterprise geared towards the Dubai of tomorrow. The encouragement and support we have received in the past from our trusted partners will now help the Meydan One development come to life."