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Wanda to compete with Disneyland

Last Updated: Monday, December 22, 2014 - 11:48

Wang Jianlin (center), chairman of Dalian Wanda Group, leaves after a news conference for the opening of a Wanda movie park in Wuhan, Hubei Province, on Saturday. Wang said Wanda will compete with Disneyland and probably open theme parks in the United States in future. — Reuters

CHINESE real estate tycoon Wang Jianlin said his Dalian Wanda Group will compete with Disneyland and probably open theme parks in the United States in future. Wang, founder and president of the group, one of China’s top property developers, revealed his ambition on Saturday at the opening ceremony of a movie park in Wuhan, capital of Hubei Province in central China.

Although real estate contributed the bulk of Wanda’s revenue, Wang said the group is seeking more growth engines as rapid expansion in China’s property sector is coming to an end.

Wang, 60, said Wanda will unveil a transformation plan in January and turn to businesses in culture, tourism, finance and e-commerce for further growth.

In a move toward the transformation, Wanda launched the “cultural tourism city” program to build complexes for tourism, entertainment, shopping, dining and other purposes in a number of Chinese cities.

“Our cultural tourism cities will try to rival Disneyland parks in Hong Kong and Shanghai in terms of visitors and revenue. If we do well, Wanda will probably build theme parks in the US,” said Wang.

Wanda is confident in promoting Chinese culture to the world, according to Wang. The group is actively exploring overseas markets with investment in the US, Australia, Britain and Spain.



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