Legoland, a theme park franchise based on the Dutch toy, is set to open a branch in Shanghai. (Photo : Wikimedia)
Merlin Entertainments, the United Kingdom-based theme park operator, has announced plans to open a branch of its Legoland theme park in Shanghai.
The deal, which involves an investment of about $300 million, was formally announced on Wednesday in London, during the visit of Chinese President Xi Jinping to the U.K.
To establish the theme park, Merlin Entertainments signed an agreement with China Media Capital, which has an array of media and entertainment investments. China Media Capital is headed by Li Ruigang, formerly of Shanghai Media Group.
The financial details of the deal were not disclosed during the announcement.
Merlin Entertainments is the second largest theme park operator in the world in terms of visitor numbers, second only to Disney. It already operates five tourist attractions in China, including four Madame Tussauds museums in Shanghai, Hong Kong, Beijing and Wuhan, as well as the Chang Feng Ocean World Aquarium found in Shanghai.
In 2012, Merlin Entertainments opened a Legoland theme park in Malaysia, its first in Asia.
The company is also set to open a Legoland in Dubai in 2016 and in South Korea and Japan in 2017.
The partnership between Merlin Entertainments and China Media Capital is also considering the development of other Merlin theme parks in China, such as The Dungeons, as well as new concept theme parks like DreamWorks Tours - Kung Fu Panda Adventures.
Merlin Entertainments is one of several international groups with plans to build in the Shanghai area, considered China's commercial capital.
Disney is set to open a $5.4 billion resort in Shanghai early in 2016, while DreamWorks is expected to partner with China Media Capital to open a $2 billion theme park in 2017.
