Disney signs deal to build Shanghai theme park

November 5, 2010, 7:03 AM · Walt Disney Co. signed a formal agreement Friday with a company backed by the Shanghai municipal government to build a long-planned Shanghai Disneyland theme park in the financial hub of China, the two sides said in separate statements, MarketWatch reported.

Shanghai Disneyland will cost $3.59 billion, making it one of the largest-ever foreign investments in China. The signing of the agreement comes amid broad concerns about the health of the global economy and as Disney continues to struggle with its five-year-old Hong Kong theme park.

The Shanghai government said Disney signed the agreement with Shanghai Shendi Group Co., a company set up Friday to oversee the development of the theme park.

Replies (0)

This article has been archived and is no longer accepting comments.

Top 10 Attendance

  1. Magic Kingdom
  2. Disneyland
  3. Tokyo Disneyland
  4. Universal Studios Japan
  5. Tokyo DisneySea
  6. Disney's Animal Kingdom
  7. Epcot
  8. Shanghai Disneyland
  9. Disney's Hollywood Studios
  10. Universal Studios Florida