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
- Traffic stop payoutVernon / N. Okanagan - 12:17 pm
- Officer charged with murderBC - 11:52 am
- Grizzly chomps on cameraBC - 12:10 pm
- Traffic delays along highwayWest Kelowna - 12:44 pm
|QHR Technologies Inc||1.12||+0.01|
|Anavex Life Sciences||0.191||+0.001|
|Copper Mountain Mining||1.99||+0.05|
|Sunrise Resources Ltd||0.06||0.00|
|Mission Ready Services||0.45||0.00|
This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...
Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...
The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...