Walt Disney Co. CEO confirmed that the new Shanghai theme park is planning to open during the first six months of 2016.
Due to the privacy of this information, the person has asked to remain unidentified, but mentioned that investors in the $5.4bn project will be updated about progress during a conference call on Tuesday.
According to Iger, the park in Shanghai will avoid the problems with debt which have hampered the Disney resort in Paris. It will gain from a bigger local population and a stronger economic situation.
Disney is expecting the travel market in China to have increased by 34% from 2012, by the time it opens this project. Iger stated that around 330 million potential visitors are located within a three-hour travel radius of the resort.
This is Disney’s first park on mainland China and is a joint venture between the California-based company and Shanghai Shendi Group, which owns 57%.
Confirmation of this information was not possible from either Disney or Shendi.
The project scope was increased during April last year upon announcement of additional attractions to the value of $800m. The increase was due to an improvement in the tourism market in China.
Iger stated that Disneyland, Shanghai is their best growth initiative globally in a very long time.