Meraas has signed a 10-year agreement with The Coca-Cola Company for the exclusive naming rights.

Dubai-based Meraas has signed a 10-year agreement with The Coca-Cola Company for the exclusive naming rights for Dubai's first and biggest indoor, multipurpose arena. Upon completion, the 17,000-capacity arena will be known as the Coca-Cola Arena.

Video: 360-degree view of Dubai Arena, biggest in Middle East

Located at Meraas' popular urban retail and residential destination City Walk in Dubai, the hugely-anticipated arena will open to the public in June this year.

Owned by Meraas, the Coca-Cola Arena will have the ability to host large scale live events 365 days a year. While adding another dimension to Meraas' diverse portfolio of projects, the arena will also bolster Dubai's status as a year-round global tourist destination and foster the development of Dubai as an all-inclusive modern metropolis for its residents.

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Welcome to Dubai's new home of live entertainment: https://t.co/oc3COhLQy2#cocacolaarena pic.twitter.com/cDGmouIC2H - Coca-Cola Arena (@cocacolaarena) April 8, 2019

Meraas Group Chairman Abdulla Al Habbai commented on the momentous announcement "We are proud to have a company of such worldwide renown as Coca-Cola taking on the naming rights for the arena in the long-term. It is a testament to the unrivalled positioning of Dubai as a global tourism, leisure and entertainment hub.

Murat Ozgel, General Manager of Coca-Cola Middle East and Deputy President of Coca-Cola Middle East and North Africa, added, "We are proud to be a part of this highly anticipated entertainment destination which demonstrates our commitment to the region. The Cola-Cola Arena will build on Dubai's thriving entertainment industry, positively contributing to the city's ambitions to become a world-leading metropolis. The arena will create another iconic landmark in the city attracting visitors from across the world.

The state-of-the-art multipurpose Coca-Cola Arena has been designed with Meraas' unmistakable architectural panache. It will be a fully air-conditioned indoor arena with end-stage, central and half-stage configuration capabilities. It is also, significantly, the biggest multipurpose arena of its kind between Istanbul and Singapore.

As such, it is ideally positioned to host the most diverse productions. Major touring international artists, sporting events, comedy gigs, gala dinners, exhibitions and conferences can all be accommodated in the arena to the taste of the region's diverse cultural palate.