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|April 12th, 2013, 03:25 PM||#21|
Join Date: Mar 2009
Location: Vaugirard, Paris XV
Likes (Received): 2868
B.I.G. to build 'EUROPA CITY'
Here are some more renderings (better quality) of the winning project:
Last edited by Jex7844; April 13th, 2013 at 12:08 PM.
|January 29th, 2015, 06:10 AM||#24|
Join Date: Jan 2015
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that is very big building! #awesome
-You may not know where the road of life will lead you, but keep moving. God is walking with you.-
|February 29th, 2016, 03:46 AM||#26|
In the brig
Join Date: Sep 2003
Likes (Received): 8133
Wang to build US$3.3bil French theme park
Monday, 29 February 2016
Super rich: For Wanda, which runs theme parks across China, movie theatre
chains in the United States and a soccer club in Spain, the move represents a
renewed overseas push, underscoring Wang’s increasingly global ambitions. — Bloomberg
BEIJING: A partnership led by by Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co plans to invest more than three billion euros (US$3.3bil) in a retail and leisure development project outside of Paris, taking on Walt Disney Co in the eurozone’s second largest economy.
EuropaCity will be built 10 kilometers (6.2 miles) northeast of Paris. It will be the biggest single investment project in Europe to date, including a theme park, show stage, hotel, retail stores and conference centers, the company said in a statement.
The project, which spans more than 80 ha (198 acres), will also provide about 20,000 jobs during construction and 14,000 after it opens, according to the statement.
For Wanda, which runs theme parks across China, movie theatre chains in the United States and a soccer club in Spain, the move represents a renewed overseas push, underscoring Wang’s increasingly global ambitions.
The conglomerate agreed in January to buy “Godzilla” producer Legendary Entertainment for US$3.5bil, paving the way for the tycoon to become the first Chinese person to control a Hollywood film company.
France-based shopping center developer Immochan is overseeing the project. Immochan is an arm of Groupe Auchan, a family-owned supermarket operator.
Wang is also interested in potentially buying Amaury Sport Organisation, a company that runs cycling’s Tour de France race, the Wall Street Journal reported, citing people familiar with the matter.
Wang, who vies with Alibaba Group Holding Ltd. founder Jack Ma for the title of China’s richest person, has set his sights on beating Disney in the theme park business.
In January, he told executives that visitor arrivals and revenue at Wanda’s tourism projects in Wuxi and Guangzhou will beat those of Disneyland in Shanghai and Hong Kong, respectively, according to a transcript of the speech posted on the company’s website.
EuropaCity may add to challenges facing Disneyland Paris, which needed a bailout in 2014 to upgrade its facilities and reverse a slump in attendance.
Already this year, Wanda announced a US$2.3bil investment in three hospitals, the formation of a financial group and the signing a US$10bil development deal in India, in addition to the Legendary acquisition.
Wanda has said it’s planning five major acquisitions in 2016 - three of them overseas.
Wang’s investments in Europe include the Club Atletico de Madrid soccer team and Swiss marketing firm Infront Sports & Media AG.
Wanda is seeking acquisitions to bolster growth as the group braces for falling sales from its main property business.
That’s prompted Wang, estimated by the Bloomberg Billionaires Index to have a fortune exceeding US$26bil, to increasingly look toward expanding his entertainment business.
Wang’s film, tourism and sports operations all fall under Wanda’s fast-growing Cultural Industry Group, which saw revenue climb 46% last year and is forecast to climb 30% in 2016.
By comparison, Wanda Group estimates overall sales rose 19% in 2015 and will probably decline 12% this year because of the slump in its property business. — Bloomberg