The Hong Kong government and Walt Disney Company will hold talks on Phase II expansion of the Disney theme park in Hong Kong, the Hong Kong Economic Times reported Thursday, citing a source close to the government.
When an “Iron Man” attraction and a resort hotel are completed at end-2016 and early 2017, there will not be much land available in the existing park area for further development.
So, the government is looking at setting aside a land plot in the east of the existing one, with area similar to the current park, for Phase II expansion, the source was quoted as saying.
Hong Kong Disney is scheduled to release its financial report for 2014 in the middle of February. Net profit is expected to surpass the previous year’s record of HK$242 million thanks to strong hotel business and tourist consumption, the report said.
To meet rising demand and tackle competition from the Shanghai Disney Park, which is under construction, expansion is in the pipeline.
New facilities under the Phase II plan are expected to be completed in 2020. The Hong Kong government will remain the biggest shareholder in the theme park, the report said.
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