The Government and The Walt Disney Company (TWDC) have reached an agreement in principle on an expansion of Hong Kong Disneyland (HKD).

   The expanded park will have three new themed areas, namely "Grizzly Trail", "Mystic Point" and "Toy Story Land" (working titles). There will be more than 30 new attractions, including "thrill" rides targeted at the young adult segment, bringing the total number of attractions in HKD to over 100. TWDC has given assurance that "Grizzly Trail" and "Mystic Point" will be exclusive amongst Disney theme parks worldwide and "Toy Story Land" will be exclusive within the Asian region, for five years from their respective opening.

   On the financing arrangement, TWDC will contribute all the necessary new capital (estimated to be about HK$3.5 billion) for the construction of the new themed areas as well as for sustaining the park's operation during the construction years. It will also convert the entire outstanding balance (projected to be HK$2.76 billion) of its loan to the joint venture to equity.

   The park expansion will commence works in late 2009 and scheduled for completion in phases over five years.