Universal announced on Monday that it has reached an agreement with the Chinese government to build a $3.3 billion theme park in Beijing, China.
Many theme park developers are rushing to build in China due to their growing entertainment market over the recent years.
The Beijing China park will feature many China-themed attractions as well as popular attractions from other Universal theme parks including the incredibly popular Harry Potter franchise. The park will be developed by Beijing Tourism Group Co.
Tom Williams, chief executive of Universal Parks and Resorts, mentioned during a press conference that Steven Spielberg will be heavily involved in the parks design as well.
“There is Disneyland in Hong Kong, but there isn’t really anything of equivalent quality of a tourist attraction on the mainland yet,” said James Roy, associate principle of China Market Research Group. “It has a chance to be very successful.”
No official opening date has been announced but rumors are pointing to a 2019 opening.
Disney is also building a resort in Shanghai that is slated to open in 2015.