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Shanghai Disneyland Deal Signed

Posted by: Tim Halbur

19 January 2009 - 8:00am

The City of Shanghai has signed on to a proposal from the Walt Disney Company to build a Disneyland theme park in Mainland China.

"Under the proposal, the entertainment giant will take a 43 percent stake in Shanghai Disneyland. The other 57 percent will be owned by a joint-venture holding company, owned by the Shanghai government.

The total investment will be about 24 billion RMB. The first phase will include a theme park, a hotel and a shopping center, covering an area of 1.5 square kilometers.

It will open in 2014, at the earliest. By the conclusion of the whole project, a sprawling complex will cover an area of six to eight square kilometers."

Full Story: Disney hopes to build 1st park on Chinese mainland
Source: China Daily, January 15, 2009
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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