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Wanda Group to build theme park on Gold Coast?

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http://m.goldcoastbulletin.com.au/lifestyle/new-billion-dollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/story-fnj94iqm-1227603928837

New billion-dollar theme park to rival Dreamworld to be built by Chinese developers

  • JACK HOUGHTON
  • GOLD COAST BULLETIN
  • NOVEMBER 11, 2015 12:00AM
Wang Jianlin. Photo: AFP/Greg Baker

Wang Jianlin. Photo: AFP/Greg Baker

CHINA’S richest man is poised to build a major theme park on the Gold Coast expected to rival Dreamworld and Movie World.

Wang Jianlin’s Chinese conglomerate, the Wanda Group, is negotiating with the State Government to obtain land at Coomera to build the multi-billion-dollar attraction.

Speaking exclusively to the Gold Coast Bulletin, Wanda Group general manager Xie Hong said theme parks were a primary focus of the company’s international plans and the Gold Coast was the perfect location.

"Wanda in Australia has already acquired the biggest cinema company in the country and theme parks are one of the things Wanda wants to invest in in the future,” Mr Xie said.

“It is Wanda’s intention to set a theme park up on the Gold Coast but this major project is still under negotiation with the State Government.”

The plan has the backing of city leaders, with Coomera MP Michael Crandon saying there was “an abundance of land in Coomera which lends itself to theme park development. The more development of this scale we can attract to the northern Gold Coast the better.

“I would bet the other theme parks in the area will want this because it will bring more people into the area.”

Visitors ride on a roller coaster ride at Xishuangbanna Resort in Yunnan, China.

Visitors ride on a roller coaster ride at Xishuangbanna Resort in Yunnan, China.

 

Mr Xie declined to say whether the park would have a Disney theme but the household name is aggressively pushing into China where more than 59 luxury theme parks have been proposed.

The Wanda Group recently forked out $2.5 billion on a theme park and resort in Yunnan, southwest China, which features dozens of elaborate roller-coasters and world-class hotels over a massive 5.3 square kilometres block.

 

The Wanda Xishuangbanna International Resort can hold up to 5 million people a year across three five-star hotels and numerous apartment complexes while Wanda has predicted more than 200 million people will visit their tourism parks in the next five years.

Mr Xie also spent around $936 million building a movie theatre in Wuhan for a musical and acrobatic production.

Premier Annastacia Palaszczuk travelled to Beijing with a trade mission in October to meet with Mr Xie and reportedly promised to work with him in Queensland.

Wanda has already invested significantly in the Gold Coast market, including the $1 billion Jewel project in Surfers Paradise and helping fund direct flights through Jetstar from Wuhan to the Gold Coast.

While Wanda is planning a series of major projects across Australia, including Sydney and Melbourne, Mr Xie said the Gold Coast was their business priority. “Now that we have entered the Gold Coast market with direct flights we are planning to increase our offerings,” he told the Bulletin in Wuhan.

“Right now we are offering low to middle-range products but we want to launch a luxury service.

“We are doing projects all over Australia but the Gold Coast is our marketing priority.”

Tourism Minister Kate Jones said she would head to China next week

“I will be travelling to Yunnan Province to inspect the Wanda Resort and Theme Park,” she said.

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Believe it when i see it. it's not the first theme park proposed to be built by the chinese.

Given trade restrictions and foreign investment restrictions, I just see it as the carrot they dangle when they want to do less attractive investments - you let me buy these four cattle ranches, and i'll build you a theme park.... kinda deal. my thoughts anyway.

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This group is a serious player though. They are building a massive project in Beoadbeach and recently bought Hoyts. 

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This group is a serious player though. They are building a massive project in Beoadbeach and recently bought Hoyts. 

That is true - along with the CEO's statement that he wanted all the hoyts cinemas refitted with far more luxurious seating that would reduceseating capacity but increase luxury in every cinema... regardless of cost - suggests there may be some viability to it....

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Hopefully even if this doesn't end up happening, it scares Dreamworld or VRTP into building something big.

given the park would take years to construct post-approval, I'm sure VTP and DW will wait to have a definitive answer to if it is opening before rushing investment. You also have to have $$$ to invest. 

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Hard Rock Park - announced early 2007, opened April 2008.

Wonderland was built in about a year too.

 

This concept is still a few years off construction definitely - but you're saying it would take years to construct post approval? i don't think so.

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if it's true i say bring it on. more competition is good for the other guys it prompts them to add bigger and better rides. which is only good for us :P

^ This :P

If there's an extra park on the gold-coast, then I have another park to choose from when I want to have some fun! 

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Mr Xie declined to say whether the park would have a Disney theme

He just build a $2.5Billion resort in south china. Disney Shanghai is at $3.7bill for comparison. I assume it would be going on the land opposite Dreamworld where Disneyland was planned to be. 90% is still undeveloped. I agree wiht MBA2012, hopefully this gives VRTP and Dreamworld the kick up the back side to do another big ride or attraction. 

Edited by lifeofsamage

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I was just about to post this too.

I do worry slightly that the theme park market may have already reached saturation level in the Gold Coast, but I'm sure nobody would waste a billion dollars if they were not absolutely certain it would be a worthwhile investment. 

If it happens, fantastic. I would like to think any new park would focus on themed experiences rather than more thrill rides. It's certainly where there's something of a gap in the current offering. 

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He just build a $2.5Billion resort in south china. Disney Shanghai is at $3.7bill for comparison. I assume it would be going on the land opposite Dreamworld where Disneyland was planned to be. 90% is still undeveloped. I agree wiht MBA2012, hopefully this gives VRTP and Dreamworld the kick up the back side to do another big ride or attraction. 

the land opposite Dreamworld? Which opposite?

dreamworld is boarded by the M1 Motorway to the west, the school and housing estates to the south, sporting fields which are being developed into Commonwealth Games venues to the partial east (with the remainder zoned as a conservation zone to offset the Town Centre on the Coomera Masterplan), and the land to the north is about it be cleared for the Town Centre. 

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so if a cashed up Chinese company comes in and puts in a multi million dollar theme park in right next door, don't you think that will affect Dreamworld and movie worlds profit? Alot of people will want to go the new theme park right? So will that pull people away from Dreamworld and movie world?? I just think that the gold coast has enough theme parks. We've got two rollercoaster/ rides parks, two water parks and a Marine park. I'm just saying that maybe this could be bad for our theme parks.

 

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Fair point, but theme parks NEED the crowds to remain profitable. As I said earlier though, I'm sure nobody would invest $1b if they hadn't made certain it was going to be viable, so I'm sure that either it won't get built, or it will get built and all the parks will remain viable.

Edited by pushbutton

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so if a cashed up Chinese company comes in and puts in a multi million dollar theme park in right next door, don't you think that will affect Dreamworld and movie worlds profit? Alot of people will want to go the new theme park right? So will that pull people away from Dreamworld and movie world?? I just think that the gold coast has enough theme parks. We've got two rollercoaster/ rides parks, two water parks and a Marine park. I'm just saying that maybe this could be bad for our theme parks.

 

I think it could be both good AND bad.

The bad - as you say, there's another park to visit.

The good - there's another park to visit! This will hopefully bring in more people, and let's face it - who goes to the GC and only does one park? People will be making trips to the GC mainly to check out this new park, and probably do the rest whilst they're there too. A new park, whilst being bad on the surface for competing with the other parks, may well help stimulate the market.

Of course, it could be argued that since people would be going to the new park they wouldn't be spending as much time in the existing parks. But the multi-day tickets for the existing parks already seem quite cheap so I'm unsure they'd lose much in ticket fees, but probably in terms of things people buy in the park (such as food).

I'd hasten to add that I don't know much about the issue, having only visited the GC once so far (but once we get to Australia, it'll hopefully be a lot more).

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I read a report a while ago and I think I posted it on here but maybe not.    To sum the report up it said a new park would increase attendance to dw and mw.   It showed the attendance figures increase for sw when dw was built and dw and sw attendance went up once mv was built.    One good thing about our parks is they are now owned by bigger companies which means they have the cash if they want to inject it into the parks.     

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In the article, what does this mean?

Mr Xie declined to say whether the park would have a Disney theme

I imagine this park will be themed, but to what? And does this suggest a possible deal with Disney (after all, I believe Disneyland Paris was built and is operated by another company)?

Probably nothing though.

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I can't see it ever being approved. Too much red tape. 

I don't think the red tape will matter too much providing the Qld govt & GC council are fully supportive of the proposal and the $$$ that would flow into the economy (and pockets) and the employment aspect. I'm sure any potential deal would be contingent upon tens, if not hundreds, of millions of dollars being spent by the developer to improve infrastructure in the region, money they then don't have to spend 

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