Comcast NBCUniversal is set to build the Universal United Kingdom Resort, a theme park and resort in Bedfordshire, U.K., slated to open in 2031.

Today, U.K. Chancellor Rachel Reeves and Culture Secretary Lisa Nandy hosted Brian Roberts, chairman of Comcast Corporation, and Mark Woodbury, chairman and CEO of Universal Destinations & Experiences, at 11 Downing Street to unveil the name and logo for the theme park and resort.

Comcast NBCU plans to invest £5 billion to develop the resort, with an additional £1 billion earmarked for the project during its first decade of operation.

As part of its total £1.3 billion investment, the U.K. government will provide a grant of £400 million through the exceptional Regional Growth Fund and the Department for Culture, Media and Sport will provide a grant of £438 million to invest in new community infrastructure to maximize the benefits of the development and support growth across the region.

Comcast NBCU said the attraction is projected to attract 8.5 million visitors annually, with the goal of becoming Europe’s most-visited theme park.

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