Hong Kong administration approved the extension of the “Disneyland” worth $1.4 billion


Moscow. May 3. INTERFAX.RU – the Finance Committee of the legislative Council of Hong Kong approved the expansion project of the Park “Disneyland” worth 10.9 billion Hong Kong dollars ($1.4 billion), the costs will be divided equally between the budget and the Walt Disney company, writes The Variety. In November last year, the administration of Hong Kong, together with Walt Disney unveiled a plan to expand Hong Kong Disneyland, but MPs have questioned the necessity of the payment of such expenses from the budget of the special administrative region.

Last year Hong Kong Disneyland has been unprofitable, and members of the legislative Council were angered by the fact that Walt Disney continued to receive payments for the management of the Park. To soften the position was helped by the offer of Walt Disney to divide the costs equally for the expansion and abandon the variable portion of management fees for two financial years.

As a result, the share of the Hong Kong government, the Park will be reduced from 53% to 52% and the share of Walt Disney, respectively, will increase to 48%.

After the expansion areas at Disneyland will be two new entertainment zone, with the result that they will be 9 instead of 7, and the number of installations will increase from 110 to 130. Construction works will be carried out in the period from 2018 to 2023.

Source