by Donald Wood
Last updated: 12:00 PM ET, Mon September 14, 2015
Universal Studios revealed plans Sunday to build the company's largest theme park in China, with the project estimated to be completed by 2019.
In a report from the Business-Standard.com, the new Universal Studios theme park will cost an estimated $7.98 billion (50 billion yuan) and will be built in the east suburban district of Tongzhou in the capital city of Beijing.
The facility is expected to encompass an astonishing 2.02 million square meters.
The Universal Studios construction project in Beijing will be the sixth park in the company's portfolio and the third in Asia, and this will be the largest amusement park Universal has ever built.
To construct a theme park of this magnitude, the project will have to be split into stages. The first stage involves building the Universal CityWalk retail-entertainment complex and the Universal-themed resort hotel. In the second phase, the company will build another theme park, a water park and five additional resort hotels.
According to the Business Standard, the Tongzhou district's culture and tourism administration bureau is reporting that the park will feature traditional and modern Chinese culture elements to help draw in national and international visitors.
In order to help more guests reach the new park, Chinese Subway Line 7 will be extended and put into operation before the facility ever opens its doors to the public.
The project was originally agreed upon by the National Development and Reform Commission in September 2014, but Universal Studios and Chinese officials formally put pen to paper on Sunday afternoon.
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