CHINA TOPIX

11/22/2024 12:45:43 am

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Shanghai Disney Park Gets Additional US $800 Million

The developers of Shanghai Disney Park, the first Disney theme park in mainland China, are spending an additional US $800 million to add more attractions on their theme park resort before the scheduled opening at the end of next year.

The Walt Disney Co and the Shanghai Shendi Group said its total investment for the park has now reached about US $5.44 billion, with the new round of spending announced earlier this week. 

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However, the two owners of the park are confident that return of investment will be quick considering that interest in the first Disney Park in mainland China has been growing. 

Based on recent study, the Shanghai Disney Park targets around 330 million income-qualified people three hours away from the resort.

The US $800 million new spending was decided in order to attract more guests to the park. New attractions and entertainment will be added so that the opening day will become more spectacular, said Disney CEO Robert Iger.

The Shanghai Disney Park is the second Disney property in China. Disney's first theme park in China is the Hong Kong Disneyland.

The Disney property in Shanghai will feature six theme areas - including an area that will be transformed into a Pirates of the Caribbean setting, complete with structures and designs based on the blockbuster movie. When completed, the park will have two themed hotels, several dining and entertainment spaces, recreational spots, a magical lake and transportation hubs.

While construction is going on, Walt Disney and Shendi have launched a campus-based recruitment, enticing thousands of graduates to apply for the various vacancies at the Shanghai Disney Park.

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