Russian development company Regions Group has confirmed the locations of its three Dreamworks-branded theme parks - which it says will be the largest indoor themed amusement parks in Europe.

Amiran Mutsoev, member of the board of directors of the Regions Group, told Attractions Management that Nagatinskaya Poyma park in Moscow, Rzhevka in Saint Petersburg, and Polevskoy Trakt in Yekaterinburg, have been selected as the locations for the Dreamworks parks. The first to open will be the Moscow site in 2017, with a total investment of US$1bn (€7.23m, £5.98m).

The total cost to implement all three projects will be approximately US$3bn (€2.17bn, £1.79bn), according to Mutsoev.

The company has signed an exclusive licensing agreement with Dreamworks Animation to use the themes of the studio’s animated films, with Dreamworks designing the creative image of the park. Regions Group will construct, own and manage the parks.

“We will continue our co-operation even after all of the parks open, and our collective knowledge in managing amusement parks will ensure successful operation of the facilities and make them a favourite place to spend leisure time for Russians,” said Mutsoev.

He said the theme parks would come as part of a “completely new format of multi-functional facilities” in the Russian entertainment market, combining a family and entertainment venue, a recreation facility and a hotel.

In Moscow, a multi-functional complex will house not only a theme park, but a concert hall, yacht school, themed retail area, cinema screens, cafés, restaurants, a hotel and a landscape park.

An outdoor area will include an observation wheel, offering panoramic views of the Moscow River.

Mutsoev said the three park locations were chosen because they are in regions with high living standards that account for 60 per cent of the Russian entertainment market, as well as being close to major traffic arteries and affording the necessary amount of land.

Construction preparations for the Moscow park are currently underway, and Mutsoev said Regions Group is working closely with city authorities to implement the project as soon as possible.

The project was first announced in February 2013.