Ground-Breaking Ceremony at Shanghai Disney Resort

After having gained approval from the Chinese central government in Beijing, the Walt Disney Company and its Chinese joint venture, the Shanghai Shendi Group, have broken ground on the Shanghai Disney Resort at the beginning of April. The sixth Disney park worldwide that is being built in Shanghai’s Pudong area is planned to open in approximately five years. Classic Disney characters and storytelling will be combined with typical Chinese elements. A Magic Kingdom-style park with several themed areas, an interactive Disney castle, a lake as well as other Disney attractions and experiences will await the visitors within the 3.9 square kilometer large resort. Two themed hotels and a large retail, dining and entertainment venue are also included in the offer. The total investment consists of 3.7 billion US Dollar (around 2.6 billion Euro) for the park and 0.7 billion US dollar (around 475 million Euro) for the hotels and further facilities. The amount will be split between Disney and the Shanghai Shendi Group with Disney holding 47 percent of the shares of the owner companies and the Shanghai Shendi Group holding 57 percent. (eap)