Universal Studios to build a Hollywood movie-themed park in Beijing

Universal Studios is on track to open its Beijing facility in 2018, making it the third in Asia after Singapore and Osaka.

The nearly $2 billion project involves building a Hollywood movie-themed park in a suburb close to the Chinese capital in collaboration with the local government-owned tourism company, Beijing Tourism Group, reports The Hollywood Reporter.

Quoting local media reports, the website reports that the proposed resort will be spread over 51 acres in the southeastern hamlet of Tongzhou and cost $1.95 billion (12 billion Yuan). Construction of this ambitious project is scheduled to commence in the last quarter of 2014.

The Shanghai Landscape Architecture Design Institute has reported that officials from the country's National Development and Reform Commission have already filed an application to start construction work and the demolition of existing buildings is currently underway.

In addition, the Universal Parks and Resorts' Universal Creative division has already published advertisements inviting applications from Mandarin-speaking Chinese to fill up the new posts at the proposed theme park. Hollywood Reporter contacted Universal for comments on the authenticity of the reports, but the request was declined.

Beijing Tourism Group will provide the land for the proposed theme park, in addition to investing an unspecified amount in the project. On its part, Universal Studios will take care of the intellectual property, branding, technology and task of managing the theme park.

According to a report in the Global Times, the municipal government in Beijing, which also includes Beijing Tourism Group, is planning to construct a monorail in the capital connecting the proposed theme park.

Universal Stuidos isn't the only one investing in China: A report in Sina.com says that the Walt Disney Company is also building a "Magic-kingdom-style" park in Shanghai. Covering an area of 1.16 square km and located inside the Shanghai Disney Resort, this park is scheduled to open by 2015 and will include a lake, theme hotels, recreational facilities, dining and entertaining sites as well as large retail and transportation hubs.