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City of Dreams, widely known as CoD or CoD Macau in the industry, 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). A 47-story luxury apartment block is planned for a later phase of development. Its three-floor podium includes a mega-casino, over 200 shopping facilities and hotel guest facilities.
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City of Dreams has 420,000 square feet (39,000 m2) of gaming space with 450 gaming tables and 1514 machines, over 20 restaurants and bars, including one of the largest in the city. The property also includes 175,000 square feet (16,300 m2) of high-end retail space (The Boulevard) spread across two levels.
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The first phase of City of Dreams opened on 1 June 2009, and the Grand Hyatt in November 2009. There are two theatres, the first, called "The Bubble", currently shows an immersive HD media projection presentation entitled "The Dragons Treasure". The second, the "Dancing Water Theatre", opened in September 2010. It features an in-the-round water show, the largest of its kind in the world.
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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.  It is expected to contain 780 rooms.