Wanda Group Plan Investment in Theme Park near Paris

[Rob]

Potentially big news here! The Chinese Wanda Group are set to annouce plans to invest in a retail and leisure development outside of Paris known as EuropaCity. From what I can gather, EuropaCity a development that is already planned and scheduled to open in 2024. It would appear that Wanda may provide the money to make it happen, which makes sense as it fit in line with what they currently do in China and they have expressed an interest in coming over to Europe in the past.

Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. is planning to invest billions of euros in a retail and leisure development outside of Paris, according to two people familiar with the matter.

An announcement may come as soon as Friday, according to the people, who asked not to be identified because the project is confidential. Wang said at the University of Oxford on Tuesday that Wanda would announce a "major deal" this week, though he didn’t provide details. The project, known as EuropaCity, will be built in Gonesse, a town 16 kilometers northeast of Paris, between Le Bourget and Charles de Gaulle airports, according to a website for the property.

For Wanda, which runs theme parks across China, movie theater chains in the U.S. 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 $3.5 billion, paving the way for the tycoon to become the first Chinese person to control a Hollywood film company.

Auchan Project
Construction on EuropaCity is slated to begin in 2019, with the project opening in 2024, according to the website. The development, being built by property company Immochan, will include a theme park, shopping center, water and snow parks, sports fields, performance spaces and hotels, according to the site. Immochan is the development arm of Groupe Auchan, a family-owned supermarket operator. A spokesman for Immochan declined to comment.

With theme parks, Wang has set his sights on beating Walt Disney Co. 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.

The move may also add to challenges facing the Disneyland Paris amusement park, which needed a bailout in 2014 to upgrade its facilities and reverse a slump in attendance.

Wang, who vies with Alibaba Group Holding Ltd.’s Jack Ma as China’s richest man, has had a busy year. Besides the Legendary deal, Wanda announced a $2.3 billion investment in three hospitals, the formation of a financial group and the signing a $10 billion development deal in India. In addition, Wanda has said it’s planning five major acquisitions in 2016 -- three of them overseas.

Source

What can we expect from any theme park? Well here is a list of parks that Wanda currently operate.

It's all a long way off and as usual with these projects there will be those who doubt it will ever happen. If Wanda are involved though they do have serious money! Can't imagine Disney would be too keen on it going ahead.

 

[TheMan]

Most other people you can say, meh - but Wanda are a serious outfit that expand aggressively.

I think the park will be just an aspect of a wider development, so I wouldn't expect some huge Disney style park or anything - but for me with them behind it and all that cash, I'd be more surprised if it didn't go ahead.

Also, London has Thorpe, Legoland, Chessington, and goodness knows how many other attractions.

Another theme park near Paris is no biggie. Could actually make going to Paris for theme park goers more attractive.

Might actually help.

 

[Sazzle]

Sorry to dig this up (mind the dust as you enter!) but I came across a news article about this, where the locals are opposing the planning application. The article also mentions Disneyland Paris and Asterix (apparently Mr Macron is pleased with the Disney expansion!)

As part of this I found the official website, which hints at some coasters being built. Terrible choice of stock images though, I must add...

This smells suspiciously like the Swanscombe Peninsular saga, except that Wanda have form on their bulldozer approach to getting things done.

One to grab the popcorn for!