It is built, owned and managed by Melco Crown Entertainment, formerly known as Melco PBL Entertainment.
City of Dreams is Melco's second mega-sized property in Macau.
It is located directly opposite The Venetian Macao, the first property in Cotai, opened by Las Vegas Sands Corp.
City of Dreams, also known as Co D or Co D Macau, is in the style of a podium, with four towers: namely the Hard Rock Hotel, Crown Towers Hotel, and the Grand Hyatt Macau (2 towers).
Its three-floor podium includes a mega-casino, over 200 shopping facilities and hotel guest facilities.
City of Dreams has 420,000 square feet (39,000 m) of gaming space with 450 gaming tables and 1514 machines, over 20 restaurants and bars, including one of the largest in the city.
The first phase of City of Dreams opened on 1 June 2009, and the Grand Hyatt in November 2009.
In late November 2016, Melco Crown Entertainment Ltd's chairman Lawrence Ho unveiled the fifth hotel to be located within the City of Dreams.
Named Morpheus, it will be designed by Zaha Hadid Architects and is projected to finish in 2018.
On 29 November 2017, Melco Resorts announced that Alain Ducasse will open two new restaurants and a bar at the upcoming Morpheus Hotel, the restaurants are called “Alain Ducasse at Morpheus” and “Voyages by Alain Ducasse”. These four video walls measure nearly 61 feet (19 m) wide and 22 feet (6.7 m) tall.
It was constructed in the United States and made in several pieces for ease of transportation and for on-site installation. Behind each of the four sections sits a rear projector that displays images on the acrylic.
Water cascades down the acrylic faces to enhance the sub-sea ocean scene that is projected on each wall.