blogs  
 
yournews
   
 
Video Photos Finance Travel Weather Discussion TV Shows
| |
 
  Home ›
 
Business News

 

Hong Kong's Disneyland says no expansion plans
Posted: 30 November 2009 1718 hrs

  A girl looks at a billboard promoting Disneyland Hong Kong on a wall in Shanghai, China.
 
Photos  of

   
 


HONG KONG: Hong Kong's Disneyland on Monday dismissed a report that it is mulling a further expansion in a bid to compete with a planned new park in Shanghai.

The Hong Kong Economic Times cited an unnamed source as saying that Disneyland is considering a further enlargement, after it announced a deal in July to expand the venue by almost one quarter.

But a Disneyland spokeswoman said there was no such plan.

"The current position is to implement the extension plan as agreed in July with the development of the three themed areas in phases. There has been no discussion on further expansion," she told AFP.

Under the deal announced in July, Disney would invest 6.2 billion Hong Kong dollars (795 million US) to build 30 new attractions over the next five years.

The government will retain control of the park with a 52 per cent ownership stake.

Since its opening in 2005, Hong Kong Disneyland has been desperate to boost the number and quality of its attractions at the three billion US dollar venue as it struggles to attract visitors.

But the park's future became more uncertain after China announced earlier this month that it had given the green light for Disney to build its long-awaited theme park on the Chinese mainland in Shanghai.

There were concerns that both mainland Chinese and overseas tourists would shun the Hong Kong park when the Shanghai venue opens in 2014.

The first phase of construction for Shanghai Disneyland will cover only 116 hectares (1.2 square kilometres), making it smaller than the 126-hectare Hong Kong park and one of the smallest of Disney's franchises.


- AFP/so

 


Other business News
Eurozone sets conditions for Greek bailout
Banks agree US$25b deal for US homeowners
China releases Jan trade data
Flights back to normal Friday after strike: Air France
Australian central bank cuts growth forecasts
Hong Kong faces labour shortage
M'sia trade expected to grow at slower pace
US stocks gain on Greece, bank mortgage deal
Euro edges up as Greece inks reform deal
Oil prices rise on Greek deal
Eurozone stalls Greek cash aid pending new conditions
China says January exports expected to have dropped
Greece says agreement reached on austerity measures: ECB
ECB holds key interest rate steady at 1.0%
OPEC cuts 2012 oil demand forecast
China's January inflation hits 3-month high
Spain's economy to worsen in Q1
Indonesia cuts interest rate to record low
Malaysia sees record trade in 2011
Rio Tinto earnings down 59% on aluminium write-down
Asia stocks mixed on Greek fears, China inflation
China's Alibaba raising US$3b for Yahoo! stake

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions