Developer Evergrande announces plans to build Chinese theme park empire
by Tom Anstey | 30 Aug 2017
Evergrande says its parks would host 33 large-scale rides, whereas Disney usually has between 18 and 22
Billionaire Hui Ka Yan – majority owner of property developer China Evergrande Group – has announced plans to build 15 theme parks across China as the market continues to boom in the region.
Branded Children's World, the Evergrande theme parks will be built across second-tier cities in China and focus on Chinese and Western mythology.
Each park will target 15 million annual visitors and generate revenues of US$3bn (€2.5m, £2.3bn) from tourism related services, said Evergrande. Construction will be completed by 2022, according to the developer, which added the parks would be all-season, indoor ventures.
Last month Wanda owner Wang Jianlin backed off from his ambitions to topple Disney, as the top theme park entity in China, selling the majority of the company’s theme park business in order to balance its books. Previously Jianlin had taken aim at Disney, saying that “one tiger” was “no match for a pack of wolves” in regards to Shanghai Disney and his numerous Wanda developments.
In its statement announcing the park developments, Evergrande followed suit, albeit using a much more diplomatic tone, comparing its plans directly to Disney, saying its parks would host 33 large-scale rides, whereas Disney usually has between 18 and 22.
Evergrande unveiled plans for several theme parks in China earlier this year, each with a US$7bn (€5.8bn, £5.4bn) price tag. Evergrande has named Ideattack, ITEC, Sanderson, Vekoma, Zamperla and HUSS as designers and suppliers for the developments.
According to China’s government, the country’s US$610bn (€506.8bn, £470.1bn) tourism industry will double in value by 2020, with the theme park boom spurred on by an emerging middle class.
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Billionaire Hui Ka Yan – majority owner of property developer China Evergrande Group – has announced plans to build 15 theme parks across China as the market continues to boom in the region. Branded Children's World, the Evergrande theme parks will be built across second-tier cities in China and focus on Chinese and Western mythology. Each park will target 15 million annual visitors and generate revenues of US$3bn (€2.5m, £2.3bn)
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