Great news to start the day as Hong Kong’s Legislative Council approved the funding for $1.4 Billion of Hong Kong Disneyland Expansion!
From Variety: "Hong Kong’s Legislative Council has approved the government plans to co-finance the $1.4 billion (HK$10.9 billion) expansion of the Hong Kong Disneyland theme park.
The expansion plan was proposed in November last year, but came under increasing fire from lawmakers who challenged it in finance committee and other council sessions. After months of procedural delays, LegCo today approved it by 30 votes to 24.
Lawmakers became hostile to the spending plans due to a combination of the park’s losses last year and publicity about Walt Disney’s continuing to receive management fees despite the facility’s poor performance.
In March, Disney offered to equally split the cost of the expansion, despite being the minority owner. It also offered to waive variable management fees for two financial years. In return, the government’s ownership stake will fall from 53% to 52%, while Disney’s will increase from 47% to 48%.
“We have gone through a lot of analysis. We have also pushed very hard in the negotiation. We believe that this package is really the best package that we can achieve,” said Secretary for Commerce and Economic Development, Gregory So.
“Hong Kong Disneyland Resort’s multi-year expansion that will leverage some of the most popular stories of the Disney brand including Marvel and ‘Frozen’,” said Samuel Lau, executive VP and managing director of Hong Kong Disneyland Resort."
Basically, it means that everything on the rendering below, including the new castle, will be build between 2018 and 2023. The new HKDL castle will "open" in 2019 ( picture on top ).
But before, in 2018 HKDL guests will be able to enjoy a new Marvel attraction at Tomorrowland in the building where is now the Buzz Lightyear ride - which will become an "extinct" attraction. The ride will apparently use the same Omnimover vehicle and guests will meet different Marvel super heroes, including Ant-Man...
Also opening in 2018, Adventureland show place with a Moana show.
In 2019 it will be the inauguration of the new castle, as i've said, and in 2020 a big "Frozen" themed land will open in the back of Fantasyland!
Last but not least, in 2023 a major Marvel "Avengers" E-Ticket attraction will open in Tomorrowland, build where is currently the track of Utopia, which is now closed.
This is great news for Disney Parks fans, may be a bit less for Hong Kong taxpayers as more than 50% of this $1.4 Billion expansion will be financed by Hong Kong government - so with the money of Hong Kong tax payers - but we'll see what the future will tell!
Pictures: copyright Disney
