DreamWorks, Chinese partners unveil plan for Shanghai entertainment district
SHANGHAI - DreamWorks Animation and Chinese partners unveiled designs on Thursday for a 15 billion yuan ($2.4 billion) entertainment complex in Shanghai, expanding Hollywood's growing ties with China.
The "DreamCenter," due to open in 2017, will have a 500-seat IMAX cinema with international film festivals and red carpet events in mind, bars, restaurants and performance venues, the companies said. It will also showcase a "Dream Avenue" theatre district modeled on London's West End and New York City's Broadway.
The project is led by "Kung Fu Panda" and "Shrek" maker DreamWorks Animation, Chinese investment fund CMC Capital Partners, whose owners include state-owned companies, and Hong Kong developer Lan Kwai Fong.
"This will become the world's third great urban centre of entertainment and arts alongside New York's Broadway and London's West End," said DreamWorks Animation CEO Jeffrey Katzenberg at a news conference in a former cement factory, which will become one of the performance venues.
The area near the 2010 Shanghai Expo site in the city's west will also include the headquarters of animation production company Oriental DreamWorks, a joint venture between DreamWorks and Chinese partners which will produce "Kung Fu Panda 3."
The 15-hectare (40-acre) site includes eight outdoor events plazas.
The project gives Shanghai an opportunity to diversify beyond its status as a financial and manufacturing centre by adding media and cultural industries.
Another project highlighting Hollywood's influence in China is Shanghai Disneyland, the first Disney park on the Chinese mainland. It is scheduled to open in the city's Pudong district at the end of next year.
Read more Business News
- Campfire ban liftedCentral Okanagan
- National Guard leaves FergusonWorld
- 22,322 missing since 2006World
- Dog used as lure to kidnapWorld
|QHR Technologies Inc||1.21||0.00|
|Anavex Life Sciences||0.26||0.00|
|Copper Mountain Mining||2.88||-0.04|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.215||-0.015|
Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...
Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...
My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...