Wanda Group Invests in $3.1 Billion French Entertainment Complex

Deep-pocketed firm recently acquired majority stake in Legendary Pictures

China’s Dalian Wanda Group has invested in a $3.1 billion outdoor entertainment complex in France, the deep-pocketed company announced Friday.

Wang Jianlin, chairman of the company —  which recently acquired a majority stake in Legendary Pictures — said the group has “wanted to develop ourselves in France for a while, and particularly in Paris, as I had told the French president during his visit to China last November.”

The complex, named EuropaCity, is situated near Paris’ Charles De Gaulle airport. The ambitious space is set to open in 2024, and will house an amusement park, luxury hospitality properties and retail shops. Wanda’s stake will specifically develop the theme park.

“EuropaCity allows us to finally reach that objective and we are pleased to collaborate with a famous French stakeholder to develop this ambitious and innovative project. For us, it is the most important project outside of China,” he added.

EuropaCity expects 31 million vistors a year, and projects it will generate 11,800 jobs in the city of light.