Disney moves forward with US$4b Shanghai theme park

SHANGHAI After 10 years of negotiations with the China government, The Walt Disney Co. has received approval for Shanghai Disney Resort, which will include two themed hotels. Disney broke ground on the project Friday.

The resort will include a Magic Kingdom-style theme park, with characteristics tailored to the Shanghai region, and other amenities consistent with Disney’s destination resorts worldwide, the company says.

Shanghai Disney, which is scheduled to open in about five years, will also have two themed hotels, a large retail, dining and entertainment venue, recreational facilities and a lake. The project is expected to exceed US$4 billion, with the cost split between Disney and its regional partners.

The resort will be Disney’s third in Asia Pacific, joining Tokyo Disneyland and Hong Kong Disneyland.