LOS ANGELES — After a courtship of about 20 years, the
Walt Disney Company has won approval from the central government of China to build a
Disneyland-style theme park in Shanghai,
Robert A. Iger, Disney’s chief executive, said Tuesday.
The agreement for a Shanghai Disneyland is a landmark deal that carries enormous cultural and financial implications. Analysts estimate the initial park — not including hotels and resort infrastructure — will cost $3.5 billion, making it one of the largest-ever foreign investments in China.
The initial resort, with a mix of shopping areas, hotels and a Magic Kingdom-style theme park, will sprawl across 1,000 acres of the city’s Pudong district — with the theme park occupying about 100 of those acres. It would be a little bigger than Disneyland in Anaheim, Calif., and on par with the parks in Paris and Tokyo. It is expected to open in five or six years.
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