April. 26, 2012
(Shanghai, April 26, 2012) – At a ceremony held at the Shanghai Disney Resort build site earlier today, the Shanghai Shendi Construction Company Limited marked the completion of site formation work and handed over two key land parcels to the Shanghai International Theme Park Company Limited, one of the owner companies of Shanghai Disney Resort. The handover ceremony was attended by representatives from both partners of the joint venture, Shanghai Shendi Group and The Walt Disney Company, as well as leaders from the Administrative Commission of the Shanghai International Tourism and Resort Zone, and paves the way for the next major phase of the project development, resort construction.
Extensive site formation is a key preliminary step in the development of all new Disney resorts, to ensure a reliable platform for the future installation and operation of the world's most advanced ride and show systems, and to create and maintain a safe environment for future enjoyment by the many guests who will visit the resort after opening. Working in partnership with Chinese and Disney experts, Shendi Construction Company Limited ("Shendi Construction") deployed cutting-edge technologies for soil remediation and stabilization. Along the way, Shendi Construction created new records for the scale, efficiency and quality of the work completed, and have ensured that site formation work for the resort's theme park and guest parking lot have been completed on schedule and to the highest local and global standards.
Targeted to open at the end of 2015, the resort will initially be comprised of Shanghai Disneyland, a Magic Kingdom-style park that will blend classic Disney storytelling and characters with new attractions, experiences and entertainment tailored specifically for the people of China, two themed hotels, a large retail, dining and entertainment venue, recreational facilities, a lake and associated parking and transportation hubs.
"Today marks a significant milestone in the development of Shanghai Disney Resort. With great respect and appreciation, we acknowledge the efforts of our partner, Shendi, to prepare the build site over the past year, as well as the strong support from government. Their work will ensure that the resort development continues to move forward on schedule," said Bill Ernest, President and Managing Director (Asia), Walt Disney Parks and Resorts. "We are incredibly excited to begin building the resort and to develop this world-class family vacation destination in Shanghai, one of the world's most vibrant cities."
"With the successful completion of site formation work, we are now preparing for the start of infrastructure construction on the theme park," said Howard Brown, Senior Vice President, Project Development, Shanghai Disney Resort. "We have a highly talented and experienced team of Chinese and international Imagineers working in close cooperation with leading local design institutes and construction companies to help prepare for this next exciting phase, and we look forward to providing more exciting updates on the resort development in the near future."
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About Shanghai Disney Resort
Shanghai Disney Resort, the first Disney resort in Mainland China, will be a place where friends and family can escape together to a whole new world of fantasy, imagination, creativity and adventure. The resort will include a park designed in the rich tradition of Disneyland theme parks around the world with the uniqueness and beauty of China, two themed hotels, a large retail, dining and entertainment venue and an array of recreation facilities.
The resort will be located in Pudong, Shanghai and is targeted to open at the end of 2015.
The resort is a joint venture between the Walt Disney Company and Shanghai Shendi Group comprised of two owner companies (Shanghai International Theme Park Company Limited and Shanghai International Theme Park Associated Facilities Company Limited) and a management company (Shanghai International Theme Park and Resort Management Company Limited). Shanghai Shendi Group holds 57% of the shares and Disney holds the remaining 43% of shares of the owner companies. Disney has a 70% stake and Shanghai Shendi Group has a 30% stake in the joint venture management company. The management company is responsible for creating, developing and operating the resort on behalf of the owner companies.