An agreement was officially signed between Walt Disney of the US and a Shanghai consortium on November 5, 2010, to form a joint-venture to develop the Shanghai Disneyland Resort project.

     Shanghai Disneyland Resort project covers an area of approximately 7 square kilometers. The site is located in Pudong and is close to the Pudong International Airport. Phase 1 of the project will be developed in the south of Huanglou area in Chuansha, southeast suburbs of Pudong area. The second phase will be developed to the southwest of phase 1.

     Shanghai Disneyland Resort is financed by a consortium of Chinese state-owned enterprises in Shanghai in joint venture with Walt Disney Company of the US. The entire project is expected to cost RMB 25 billion yuan. Phase 1 of the project is scheduled to open in 2014.