The format for the tournament follows the men’s and women’s model successfully adopted by the Vic Open in Australia.
As is the case with the Australian event, ISPS Handa will be the main sponsor of the new tournament.
The equal prize money will see both fields battling for total funds of $250,000 (£192,000) while men and women will play at both venues on all four days.
Tournament organisers will extend invitations to leading women’s professionals from both the LPGA Tour and Ladies European Tour, plus other players from Asia and Australia.
With the Women’s British Open and Ladies Scottish Open taking place over the previous two weeks, there is optimism the World Invitational will attract a strong women’s field.
English star Charley Hull attended Monday’s World Invitational launch in London and she is expected to compete in Northern Ireland in August.
US-based Irish players Leona Maguire and Stephanie Meadow are also among those set to play in an event which will have cuts after both the second and third rounds.
The top 60 in both the men’s and women’s fields will go forward to the third round with 35 players progressing to the final day in both events.