UPDATE, WRITETHRU 8:05 AM PT: DreamWorks Animation and partners held a kick-off ceremony in Shanghai earlier today to unveil the master design plan for their DreamCenter entertainment complex. The $2.4B “lifestyle destination” is due to begin construction this year and open in 2017. On the ground were DWA CEO Jeffrey Katzenberg, China Media Capital chairman Ruigang Li; chairman of the Lan Kwai Fong Group, Allan Zeman; and reps of CDB Capital. The “Dreams Come True” celebration presented further details and new artists renderings of the 463,000 square meter complex (continued below):
Among the attractions will be a 500-seat IMAX movie theater to accomodate international film festivals and red carpet events (pic below). Bars, restaurants and performance venues are part of the designs and there will be a “Dream Avenue” theater district fashioned after Broadway and the West End in London. DreamCenter will also house the headquarters of Oriental DreamWorks, the joint venture between DWA, CMC and other local partners who are cooperating on the production of Kung Fu Panda 3. Katzenberg offered, “As the home base for Oriental DreamWorks Studio for the creation of top-quality family entertainment, DreamCenter is the place where great entertainment is not only displayed, but also where it is created.” The DreamCenter project was originally announced in 2012 for projected completion in 2016. It’s one of two major studio efforts in Shanghai. Disney is building its first mainland China theme park, Shanghai Disneyland, as the centerpiece of its Shanghai Disney Resort which is targeted to open in the Pudong district at the end of 2015. Universal is understood to be prepping a park in Beijing.