Shanghai’s $2.4 billion “DreamCenter” to Open in 2017
In a sign of Hollywood’s expanding ties with China, DreamWorks Animation and Chinese partners Thursday unveiled their $2.4 billion “DreamCenter,” an entertainment complex in Shanghai that is set to open in 2017.
The complex will contain a 500-seat IMAX cinema with international film festivals and red carpet events in mind, bars, restaurants and performance venues, according to the companies.
A “Dream Avenue” theater district modeled on London’s West End and New York City’s Broadway will also be part of the complex, according to the Associated Press.
The 40-acre site includes eight outdoor events plazas.
The project is led by “Kung Fu Panda” and “Shrek” maker DreamWorks Animation, Chinese investment fund CMC Capital Partners, whose owners include state-owned companies, and Hong Kong developer Lan Kwai Fong, according to the AP.
“This will become the world’s third great urban center of entertainment and arts alongside New York’s Broadway and London’s West End,” DreamWorks Animation CEO Jeffrey Katzenberg told a news conference, according to the Hollywood Reporter.