The Government has reached an in-principle agreement with the Walt Disney Company on the expansion and development plan for the Phase 1 site of the Hong Kong Disneyland Resort.
Announcing the deal today, Secretary for Commerce & Economic Development Gregory So said: “We are happy to see the Walt Disney Company’s confidence in the Hong Kong market and the future of tourism in Hong Kong, and that it continues to make significant investments to expand and develop Hong Kong Disneyland Resort.”
It will be the first Disneyland park in the world featuring "Frozen" and "Marvel Superheroes" themed areas. The plan will also transform the castle currently in the park.
The move will increase the number of themed areas from seven to nine, and the total number of attractions will increase from about 110 to over 130. The expansion will span from 2018 to 2023.
The plan will cost $10.9 billion. Based on the current shareholding ratio, the Government will inject $5.8 billion while the Walt Disney Company will inject $5.1 billion.
Mr So said the plan will bring 5,000 jobs to Hong Kong which will progressively increase to 8,000.
The Government will discuss the plan with the Legislative Council on November 28. It will also make a submission for funding approval at a later date.
