China Overseas Land may be contractor of Shanghai Disneyland
Source : Chinaknowledge
China Overseas Land & Investment Ltd<0688>, a real estate subsidiary of China Overseas Holdings Ltd, is likely to be a potential contractor on the construction of the proposed Shanghai Disneyland park, sources reported.
Some analysts pointed out that China Overseas Land is quite competitive in winning the bid as it has experience in the foundation work of the Hong Kong Disneyland. Besides, the company was the contractor of large-sized recreation facilities such as Fantasyland and Space Mountain.
Other potential contractors of the Shanghai Disneyland include road and bridge builders Shanghai Construction Co Ltd<600170>, a subsidiary of state-owned China State Construction Engineering Corp, and Shanghai Pudong Road & Bridge Construction Co Ltd<600284>.
The two firms have been considered as the strong competitors of China Overseas Land. However, industry insiders indicated that the two companies may lack relevant experience.
Reportedly, the Shanghai park would be three times bigger than Disneyland Hong Kong and the Shanghai municipal government plans to invest RMB 24.4 billion in the project, almost equivalent to the accumulative investment in Shanghai Expo 2010.