Disney’s $3.6 billion project was approved by China’s National Development and Reform Commission after four years of negotiation. Disney is allowed to make a new theme park located in Shanghai.
Hotels and retail stores will be consistent with other international Disney resorts, it will include a Magic Kingdom-style theme park with characteristics of the Shanghai region.
The Disney park will be located in the Shanghai’s eastern Pudong district, will expand the company’s presence in mainland China (China already has a theme park in Hong Kong).
Despite disappointing numbers at Hong Kong Disneyland, the city’s government—which owns a majority stake in the current park—tried to assuage fears that the impending park would draw visitors away.
The Shanghai Park could be open as early as 2012, but an exact date has not yet been set.