Chinese billionaire builds largest film studio on the globe

China billionaire

The film industry is directly related with the travel & tourism industry – also in China. “The Oriental Movie Metropolis is a major step in China's strategy to become a global cultural powerhouse,” said Wang, whose personal fortune was estimated by Forbes to be $14 billion, making him China’s wealthiest public entrepreneur.

Property and leisure tycoon Wang Jianlin has announced a largest of its kind investment project to construct a 20-studio complex in China. The plans were revealed during a star-studded party attended by Leonardo DiCaprio, Nicole Kidman, and Ewan McGregor.

The studio will be located in Qingdao, a former German colony, and one of the country’s most picturesque coastal locations.

The 50 million yuan ($8.2 billion) venture will comprise of the world’s largest studio pavilion, measuring 10,000 square meters. It will also include a unique permanent underwater stage. The complex is projected to accommodate 30 foreign film shoots a year and provide the location for 100 more domestic ones when it becomes fully operational in 2017.

The Metropolis is also designed to accommodate large tourist streams. The complex will be surrounded by eight hotels, an indoor theme park, a yacht marina, and a wax figure museum featuring likenesses of the world’s movie stars. Construction of these amenities will use around 60 percent of the project’s budget.

The focus on ancillary income stream is not surprising considering the previous ventures of Wang’s company, Dalian Wanda Group. The corporation started out as a real estate group before diversifying into hotels and cinemas.

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