CHINA’S richest man, property developer Wang Jianlin, raised the curtain on a planned 50bn yuan (£5.11bn) “motion-picture city” which he described as the biggest-ever single investment in the movie and television industry.
Property developer Wang Jianlin, 58, founder of Dalian Wanda Group, was surrounded by Hollywood stars John Travolta, Nicole Kidman and Catherine Zeta-Jones yesterday as he launched his most ambitious project yet in the picturesque coastal city of Qingdao.
When completed in 2017, the Oriental Movie Metropolis will boast 20 sound stages, including the world’s first underwater studio, a massive convention and exhibition complex, a sprawling shopping mall with an indoor amusement park and seven resort hotels.
The project also will include a yacht club with 300 berths.
“The Oriental Movie Metropolis is a major step in China’s strategy to become a global cultural powerhouse,” Wang said.
It was not only crucial to the development of Wanda's entertainment business, he added, but also an important step for building China's cultural brand.