Disney Gets OK To Break Ground In China

A Walt Disney theme park and resort project in Shanghai that has been in the planning stages since the late 1990s looks like it’s finally received a green light. The Wall Street Journal reported today that invitations went out over the weekend to a “special event in Shanghai” set for Friday, which would be a groundbreaking ceremony that Disney CEO Bob Iger is expected to attend. As designed, the park would be 963 acres and feature two hotels, shops and restaurants, and a lake. During Disney’s recent shareholders meeting in Salt Lake City, Parks and Resorts boss Tom Staggs said the park would take five years to finish. The total cost has not been disclosed, but Disney is expected to be a minority stakeholder. It would be the sixth Disney theme park and resort and the first in mainland China (Hong Kong Disneyland opened in 2005).

This article was printed from https://deadline.com/2011/04/disney-gets-ok-to-break-ground-in-china-119927/