Theme park to cost $3.6 billion
The 2015 target for the opening of DisneyWorld in China is on track.As the World Expo buildings are disassembled, Shanghai is getting ready for its next tourism draw — the mainland’s first Disney theme park, which will cover 1.43 square miles near Shanghai’s international airport in Pudong, and cost $3.6 billion. Talks have been going on for more than 10 years about placing a Disney park near Shanghai, but the Olympics acted as a distraction, and Hong Kong is not enthusiastic about the move, which might bleed customers from its own Disney park. Project was given the go-ahead last November, though that doesn’t mean much in a city where real estate laws are not written in stone. Disney prexy Bob Iger wrote in a blog: “China is one of the most dynamic, exciting and important countries in the world, and this approval marks a significant milestone for the Walt Disney Co. in mainland China.” The project will most likely be a joint venture between local government and Disney, with Disney handling investment management.