Tuesday, May 26th15.4°C
25936
25998

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.

The Canadian Press


Read more Business News

26361


Recent Trending




Today's Market
S&P TSX15050.81-136.59
S&P CDNX691.96-8.09
DJIA18041.54-190.48
Nasdaq5032.75-56.61
S&P 5002104.20-21.86
CDN Dollar0.8056+0.0015
Gold1187.40-16.90
Oil59.33+0.32
Lumber273.50-2.70
Natural Gas2.826+0.004

 
Okanagan Companies
Pacific Safety0.135-0.005
Knighthawk0.010.00
QHR Technologies Inc1.51+0.02
Cantex0.03-0.01
Anavex Life Sciences0.432+0.007
Metalex Ventures0.085+0.005
Russel Metals25.21-0.62
Copper Mountain Mining1.28-0.05
Colorado Resources0.105+0.005
ReliaBrand Inc0.008+0.003
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.02
Decisive Dividend Corporation1.96-0.24

 



24910

FEATURED Property
227104255 610 Katherine Road
3 bedrooms 2 baths
$224,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



26363

26418


Member of BC Press Council


24843