Universal Studios to Build $2 billion resort in Shanghai, China
It looks like Universal is continuing to grow at an alarming rate. The theme park giant has announced a huge $2 billion project in Shanghai, China. The new resort will cover at least 51-acres and will cost a total of 12 billion yuan ($1.95 billion), with a target opening date of 2018.
Beijing Tourism Group will provide the land for the new resort, and Universal will be responsible for the branding, intellectual property, technology and management of the park.
This will be the third Universal Studios Resort in Asia. The other being Universal Studios in Singapore and Osaka.
Disney is also expanding in China with the addition of their Hong Kong Resort which is scheduled to open in 2015. This will be the first Disney Resort on the mainland of China.
Read more over at the Hollywood Reporter