Mohammed Bin Rashid City (MBR City) is indeed an ambitious project in Dubai, UAE. It is designed as a "city within a city," developed through a joint venture between Meydan Group and Sobha Group. The city is named after Sheikh Mohammed Bin Rashid Al Maktoum, the current ruler of Dubai.

The estimated cost of the project was reported to be around AED 30 billion, and it was originally scheduled to be completed in 2020. However, as my information is only up-to-date until September 2021, I cannot confirm whether the project was completed on time or if there have been any delays.

The development of MBR City focuses on four major components:

1. Art: The city will host multiple art galleries, aiming to become a significant cultural hub in the region.

2. Environment for Sustainability: Sustainability is a key aspect of the project, with a focus on incorporating eco-friendly practices and green spaces.

3. Entrepreneurship: MBR City is expected to provide an environment conducive to fostering entrepreneurship and innovation.

4. Retail & Theme Parks: One of the notable features of MBR City is its collaboration with Universal Studios to create one of the world's largest entertainment facilities, attracting millions of visitors annually. Additionally, the city will boast the "Mall of the World," the largest mall globally, and the world's biggest swimming pool.

The location of Mohammed Bin Rashid City is strategically planned between Al Khail Road, Emirates Road, and Sheikh Zayed Road. It is also expected to include the impressive Mohammed Bin Rashid Garden project.

MBR City's proximity to Business Bay and Downtown Dubai will be connected via the "Cultural Crossing," further integrating it into the overall urban fabric of Dubai.

Overall, Mohammed Bin Rashid City is an ambitious and visionary project that aims to offer a diverse range of experiences, combining art, sustainability, entrepreneurship, and entertainment, while contributing to Dubai's reputation as a global destination for tourism and business.