SarahandPaul
Mouseketeer
- Joined
- Apr 14, 2005
- Messages
- 453
Tuesday August 2, 11:31 am ET
A Hong Kong newspaper is reporting that the Walt Disney Co. will open a theme park in Shanghai in 2012. The newspaper story does not identify its source, and, so far, Disney has not commented on the claim.
Disney (NYSE: DIS - News) has announced plans to open a $3.5 billion theme park in Hong Kong in September.
The "Hong Kong Economic Times" story claims Disney would begin the design process for the Shanghai park in 2006 with a construction start in 2008, opening in 2012.
The paper claims the park would be built on a 500-hectare site in Pudong East, a parcel significantly larger than the Hong Kong project. The Shanghai project would reportedly not include any hotels.
Shanghai officials reportedly visited the Hong Kong park two weeks ago, the paper said.
The speculation about Disney comes close on the heels of an announcement on July 20 by General Electric's Universal unit that its plans to build a theme park in Shanghai had been shelved. A company spokeswoman said their negotiations with the government had hit a roadblock a year previously and that Universal believed they were unlikely to move forward.
Media reports at that time quoted Shanghai city officials as saying the project had been suspended as part of an effort to cool the surging broader economy.
Incoming Disney chief executive Robert Iger has been previously quoted as saying that the company was planning a range of projects in China, including a theme park.
Published August 2, 2005 by the Orlando Business Journal
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http://biz.yahoo(dot)com/bizj/050802/1143794.html?.v=1
A Hong Kong newspaper is reporting that the Walt Disney Co. will open a theme park in Shanghai in 2012. The newspaper story does not identify its source, and, so far, Disney has not commented on the claim.
Disney (NYSE: DIS - News) has announced plans to open a $3.5 billion theme park in Hong Kong in September.
The "Hong Kong Economic Times" story claims Disney would begin the design process for the Shanghai park in 2006 with a construction start in 2008, opening in 2012.
The paper claims the park would be built on a 500-hectare site in Pudong East, a parcel significantly larger than the Hong Kong project. The Shanghai project would reportedly not include any hotels.
Shanghai officials reportedly visited the Hong Kong park two weeks ago, the paper said.
The speculation about Disney comes close on the heels of an announcement on July 20 by General Electric's Universal unit that its plans to build a theme park in Shanghai had been shelved. A company spokeswoman said their negotiations with the government had hit a roadblock a year previously and that Universal believed they were unlikely to move forward.
Media reports at that time quoted Shanghai city officials as saying the project had been suspended as part of an effort to cool the surging broader economy.
Incoming Disney chief executive Robert Iger has been previously quoted as saying that the company was planning a range of projects in China, including a theme park.
Published August 2, 2005 by the Orlando Business Journal
--------------------------------------------------------------------------------
http://biz.yahoo(dot)com/bizj/050802/1143794.html?.v=1
