It seems Dalian Wanda Group aims to challenge the powerhouse Walt Disney Co. and aims to become the world's largest entertainment giant by creating a USD 9.5 billion tourism complex in eastern China.
The announcement was done on Friday and the project will be Wanda's 13th large-scale tourism project in the country. Wang Jianlin, the company's CEO, has been aiming to make Wanda a big powerhouse in the tourism industry and overtake Disney by the end of the decade. For the past couple of years, Wanda has been turning its focus to entertainment in order to fulfill this goal.
The tourism complex will be located in Jinan and it will include a 10,000-seat stadium for hocky and basketball. Sports will be the key points in this new complex, a first for Wanda as they look into the market for better opportunities.
It is said that the tourism complex will be starting construction by 2017 and will be opened in 2021.
Read original article
