The Shanghai Disney Resort is a theme resort under construction by Walt Disney Parks and Resorts, planned to open on June 16, 2016. It is the first Disney park in mainland China and the second in Greater China, after Hong Kong Disneyland.Phase 1 of the resort will feature a Disneyland-style park, Shanghai Disneyland, an entertainment district,
two themed hotels, recreational facilities, a lake and associated parking and transportation hubs. Additional phases will see the development of two additional theme parks at the resort. The site will cover 390 hectares in Pudong, or approximately 3 times the size of Hong Kong Disneyland, at a cost of CN¥ 24,500,000,000 (US$3,700,000,000) for the new theme park and an additional CN¥ 4,500,000,000 (US$700,000,000) to build other aspects of the resort, totaling CN¥ 34,000,000,000 (US$5,500,000,000). 43% of the resort is owned by Walt Disney and the remaining 57% by Shanghai Shendi Group, a joint venture of three companies owned by the Shanghai government. The resort was approved by the Chinese government on November 4, 2009.Negotiation for Shanghai Disney Resort began around 2001, and the park was first envisaged in the early 2000s. However, in order to help Hong Kong Disneyland grow, the Chinese national government deliberately slowed down the development of Shanghai Disney. The Hong Kong resort opened in 2005, two years after the SARS epidemic devastated Hong Kong's economy, and it was hoped that Hong Kong Disneyland would help the city's tourism industry recover.On November 4, 2009, the Shanghai Municipal Government announced that the Shanghai Disney project had been approved by the national government, with an estimated total investment of CN¥ 24,400,000,000. Land near the proposed production site increased in value dramatically after the announcement was made. In January 2011, a government official confirmed that Shanghai Disneyland would be 2-3 times the size of Hong Kong Disneyland and would eventually contain three theme parks.On 7 April 2011, groundbreaking began at the Shanghai Disneyland Resort site.On 28 April 2014, Disney CEO Bob Iger announced an extra US$800,000,000 investment to add additional rides and entertainment by opening day, bringing the total budget to US$5,500,000,000.
two themed hotels, recreational facilities, a lake and associated parking and transportation hubs. Additional phases will see the development of two additional theme parks at the resort. The site will cover 390 hectares in Pudong, or approximately 3 times the size of Hong Kong Disneyland, at a cost of CN¥ 24,500,000,000 (US$3,700,000,000) for the new theme park and an additional CN¥ 4,500,000,000 (US$700,000,000) to build other aspects of the resort, totaling CN¥ 34,000,000,000 (US$5,500,000,000). 43% of the resort is owned by Walt Disney and the remaining 57% by Shanghai Shendi Group, a joint venture of three companies owned by the Shanghai government. The resort was approved by the Chinese government on November 4, 2009.Negotiation for Shanghai Disney Resort began around 2001, and the park was first envisaged in the early 2000s. However, in order to help Hong Kong Disneyland grow, the Chinese national government deliberately slowed down the development of Shanghai Disney. The Hong Kong resort opened in 2005, two years after the SARS epidemic devastated Hong Kong's economy, and it was hoped that Hong Kong Disneyland would help the city's tourism industry recover.On November 4, 2009, the Shanghai Municipal Government announced that the Shanghai Disney project had been approved by the national government, with an estimated total investment of CN¥ 24,400,000,000. Land near the proposed production site increased in value dramatically after the announcement was made. In January 2011, a government official confirmed that Shanghai Disneyland would be 2-3 times the size of Hong Kong Disneyland and would eventually contain three theme parks.On 7 April 2011, groundbreaking began at the Shanghai Disneyland Resort site.On 28 April 2014, Disney CEO Bob Iger announced an extra US$800,000,000 investment to add additional rides and entertainment by opening day, bringing the total budget to US$5,500,000,000.
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