Universal Parks and Resorts announced Monday it will build a $3.3 billion theme park in Bejing, China, marking the company’s fifth and largest property to date.
After years of negotiations and planning, the Chinese Government formally approved the project that will be built on 300 acres initially, with plans to expand to 1,000 acres in the future. It will include a Universal CityWalk entertainment zone and a Universal-themed resort hotel.
The park will be jointly owned by Universal and Beijing Shouhuan Cultural Tourism Investment Co. Ltd., which completed a $300 million land deal for the site back in March, according to reports.
While no specific attractions have been announced, Universal Beijing will have similar movie-themed activities found at existing parks in Los Angeles, Orlando, Japan and Singapore. The upcoming park will be unique to China however, with “Chinese elements” that pay homage to Beijing and the Chinese culture, according to Tom Williams, chairman and chief executive of Universal Parks & Resorts.
Though Universal has not confirmed exactly when the park will open, local Chinese media said the site is aiming for 2019 launch. The complex will be located in Tongzhou, an eastern suburb of Beijing.
China’s booming middle class and expanding consumer market has made the country prime territory for U.S. theme park companies. As TheWrap previously reported, DreamWorks Animation is working towards building an entertainment center in Shanghai. Disney also plans to open a park in Shanghai after already operating a complex in Hong Kong. Six Flags has also announced plans to put six parks in China over the next 10 years.