Chinese commercial property giant Wanda Group has signed a 63-billion-yuan ($9.3bn) agreement with the Municipal Government of Jinan (Shandong Province). This agreement will allow Wanda to build Wanda City, a tourism and sports complex in Jinan, which will officially open in 2021.
Wanda City will become the first ever oversize complex for culture and tourism in the world. Wanda has constructed and planned 20 Wanda Cities in China until now, which costed Wanda Group around 325 billion yuan ($47.9bn) in total.
However, the Wanda City in Jinan is quite different from the others because of its focus on sports. A high-level venue with 10,000 seats, which can be used for hockey and basketball games, will be set up in Jinan Wanda City. Furthermore, other sports activities and projects will be featured in Jinan Wanda City including hiking, outdoor extreme sports, cycling and a football school.
According to Wanda Group’s official website, the construction of Jinan Wanda City will start in 2017 and will be open to the public in 2021. After it opens, it should attract around 20million tourists every year and create 20,000 jobs.
Proofread by Linda Barouk