Universal Studios makes leap into China with plans for US$3.3bn theme park
Universal Studios has finally confirmed plans to open a US$3.3bn (€2.6bn, £2bn) theme park in China after more than a decade of attempting to enter the market.
The park, to be located in Beijing, will be designed in-part by film director Steven Spielberg and is being developed in partnership with local state firm Beijing Tourism Group.
More than 60 theme parks are now under development in China – including parks from Disney, Dreamworks and Merlin – with IAAPA CEO and president, Paul Nolan, recently calling the region “the fastest growing market in the world.”
The company did not reveal an opening date for the park, though reports say the launch will be around 2019.
Growth in China’s media and entertainment market is expected to more than double from 2013’s figures to around US$148bn (€117bn, £93bn) by 2015, according to a recent study by PricewaterhouseCoopers.
Universal Studios has been seeking opportunities to enter the Chinese market since 2001, although past attempts have not been a great success.
Both Beijing and Shanghai entered advanced negotiations with the company, with those deals progressing as far as setting up preparatory groups and reserving sites for the project.
The Shanghai negotiations fell through in 2012 when the local company coordinating the project listed itself for sale on the stock market.
Universal Studios then reportedly signed a deal with the Zhuhai government in China to invest CN¥15bn (US$2.43bn, €1.81bn, £1.44bn) in a city theme park, though Universal has still not yet given any official confirmation on that project.
Demolition of existing structures and site clearing on the Beijing site have already begun, with a goal of opening the park in 2019. The park will be the company’s fourth in Asia, following the well-established sites in Japan and Singapore and the forthcoming Universal Studios park in South Korea.
Universal Orlando building totally tropical hotel
Universal's Hogwarts Express carries more than a million riders in first month
Universal Studios theme park thought to be coming to Zhuhai, China, in CN¥15bn deal
Exclusive: Universal Orlando secretly planning King Kong attraction to coincide with 2016 movie release
Puss in Boots coming to Universal Studios Singapore
Marvel's 'Guardians of the Galaxy' IP opening as Disney attraction next month
July opening for Universal Japan’s Harry Potter world
Universal Studios Hollywood showcases Despicable Me 3D ride Minion Mayhem
UAE’s first Dior Spa debuts in Dubai at Dorchester Collection’s newest hotel, The Lana
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Tom Walker exploresthe storybehind TottenhamHotspur’sgroundbreakingnew footballstadium