Plans to build a commercial, financial and residential township in Laos feature a 60-hectare (148-acre) theme park – the first major amusement attraction in the Southeast Asian country.

The Thakhek Dream World City development – in Thakhek town in the central Laotian province of Khammouane – consists of a 7-hectare (7-acre) financial district, a 300-hectare (741-acre) mixed-use space with offices and residential space, and a 200-hectare (494-acre) retail and tourism space and theme park.

Work on the first phase started this January, with the 7-hectare plot being cleared for construction. The financial district is the first phase of the Akane Development Laos project, with the theme park marking the second phase and luxury residences the third.

Further proposed leisure facilities for the environmentally focused Dream World City include golf resorts, luxury hotels, a 60-storey skyscraper and a “Mountain Walk” cable car network.

An investment company, Akane Farm Sole, has a 30 per cent share in the Thakhek development, with the rest of the funding coming from three Malaysian, Thai and Laotian investors.

The initial investment is reported to be US$5bn (£3.5bn, €4.6bn) for the first phase of development, with some media suggesting the entire project costing more than US$10bn (£7bn, €9.2m).

Feasibility and environmental studies need to be completed before government approval can be granted, the chair of Akane Farm Sole, Somjith Aliyaphaphone, told the Vientiane Times on 12 January.

Somjith has also told Laotian press that the attraction will be inspired by Laos’ scenery and people, to “highlight the many ethnic groups in Laos and [also] feature shows from other countries in the region”.

The masterplan shows that the theme park will include a “wet world, mini riverlife gallery, historical trail, shopping arcade, cultural and art centre and cartoon character parks”.

A statement from Akane development and investment CEO Raja Azman Shah bin Raja Ahmad says the project will become “one of the iconic wonders in the ASEAN”.