Universal Studios gets green light to open $3.3B Beijing theme park

SHANGHAI, Oct. 14 (UPI) -- Universal Studios, cinema arm of media conglomerate NBCUniversal, declared its presence in the billion-dollar Beijing roller coaster arms race, announcing it will open a $3.3 billion theme park in the rapidly growing market.

Expected to open in 2019, the new park will compete with DreamWorks Animation's $3.1 billion theme park, and the $4.4 billion complex Disney is opening. Both those facilities will open to the public in 2016.

Universal spent 13 years trying to bring a theme park to the second largest market on the planet, a struggle the company says has left it with a great appreciation for the culture and wants of the Beijing.

"Beijing is an ancient cultural city with several great cultural heritage relics," Duan Qiang, chairman of the Beijing Tourism Group, told the Hollywood Reporter.

What Beijing lacks is a large-scale entertainment project based on modern technology and modern art. After thirteen years of preparation we are excited that we finally reached a deal. Thirteen years have witnessed a great improvement of people's life in China. Annually there are 250 million people traveling to Beijing. This huge market gives us confidence in the project. We celebrate it."

"Together, we will create a unique experience that spotlights hugely popular Western entertainment concepts as well as China's rich cultural legacy," echoed Universal Parks and Resorts CEO Tom Williams.

"This will be an opportunity to build relationships with the Chinese people on a direct and personal level ...Of course, there will be a lot to learn ... but I really believe it will be very harmonious relationship and we will overcome and reform. I'm very confident we will succeed again."

The theme park will be partially designed by renowned filmmaker Steven Spielberg.