Friday, January 09, 2009

Disney Plans for Theme Park in Shanghai

Under the worst-kept secret ever, we finally have confirmation that Disney is pursuing to build its next theme park in Shanghai. Rumors on this has been swirling around for months. Even the Shanghai government has leaked such discussion way back then, while Disney continues to deny the rumors.

Under the proposal signed this week, Burbank, Calif.-based Disney would take a 43% equity stake in Shanghai Disneyland while a joint-venture holding company owned by the local government would own 57%, according to a person familiar with the terms. The first phase, about 1.5 square kilometers, would include a theme park, plus a hotel and shopping development, at a cost of up to 24.48 billion yuan, or $3.59 billion, built over six years. A mostly rural site near Shanghai's Pudong International Airport has been designated for the project.

There's a lot of hurdles here to jump over. And it remains to be seen if they have learned from the debacle at Hong Kong Disneyland.


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