As the company enters 2017 with such high-level goals, Wang assures the public of his easy-going nature. (Photo : REUTERS)
A partnership led by Dalian Wanda Group Co., owned by Wang Jianlin, plans to invest over 3 billion euros ($3.3 billion) in a leisure and retail development project on the outskirts of Paris, in direct competition with Walt Disney Co.'s Disneyland Paris, in the third largest economy in Europe, as reported by Bloomberg.
The project, called EuropaCity, will be located 10 kilometers (6.2 miles) northeast of France's capital. It will span more than 80 hectares (198 acres), and it is expected to provide 20,000 jobs during construction and 14,000 jobs after the park opens, according to a statement made by the company.
To date, it will be the biggest investment project in Europe. It will include a theme park, show stage, hotel, retail stores and conference centers, according to the statement.
Dalian Wanda already runs theme parks in China and movie theaters in the United States. In January, the conglomerate also entered an agreement to buy Legendary Entertainment for $3.5 billion, making Wang the first Chinese person to control a Hollywood film company.
Immochan, a shopping center developer based in France, is overseeing the project. The company is part of the Groupe Auchan, a family-owned supermarket operator.
Wang has also shown interest in potentially buying Amaury Sport Organisation, the company that runs the Tour de France race.
Wang, who is one of China's richest people along with Jack Ma, aims to beat Disney in the theme park business.
In January, Wang told executives that Wanda's tourism projects in Wuxi and Guangzhou will beat the two Disneyland locations in Shanghai and Hong Kong in terms of visitor arrivals and revenue, according to a transcript of his speech posted on the company's website.
This could mean unwanted pressure for Disneyland Paris. The theme park needed a bailout in 2014 to upgrade facilities amid a slump in attendance.
Wang's other investments in Europe include Club Atletico de Madrid, a football team in Spain, and Infront Sports & Media AG, a Swiss marketing firm.
Wanda is constantly seeking acquisitions to bolster growth, with the flagship property business of the conglomerate seeing waning sales.
However, not everyone is optimistic about EuropaCity.
"We hope they're thinking very long term, because right now there is no market to support another park in the region," said Jason Clampet, head of content at Skift, a travel industry intelligence platform.
