The Dubai government said the deal was a partnership to "study the implementation of the Dubai Loop" - and shared a picture of Dubai's Crown Prince Sheikh Hamdan overseeing the signing of it.
ELON Musk has announced he will build a mega tunnel loop under Dubai where cars zip along at 100mph and passengers can get anywhere in 6 minutes.
He said his vision is for a "wormhole" under Dubai, allowing people to go "from one part of the city, boom, and you're at another part of the city".
Olama said the project would ease-up Dubai's "most densely populated areas for people to go from point to point, in a seamless manner".
One of his companies has signed a deal to build an ambitious new project that will revolutionise how people travel in the UAE city.
