The highly anticipated Shanghai Dream Center being jointly developed by Dreamworks Animations SKG, CMC Capital Partners and the Lan Kwai Fong Group, released its general plan on Thursday.
The Shanghai Dream Center will start construction this year and is expected to be completed in 2017. Covering some 463,000 square meters and attracting initial investment of 15 million yuan ($2.41 million), the center will become a new landmark on the west bank of the Huangpu River, which runs through this international cosmopolitan city.
The center will be made up of 12 creative and cultural buildings which have been restored from previous cement factories or shipyards, featuring performing arts theaters, music halls, artists' workshops, the headquarters of Oriental Dreamworks and a 500-seat IMAX cinema specially designed for premieres and red-carpet ceremonies.
A Lan Kwai Fong lifestyle neighborhood featuring restaurants, bars and retailers, together with eight outdoor themed squares will become the main axis of the west bank of the Huangpu River.
Oriental Dreamworks will be the cradle for ideas for the Dream Center, said Jeffery Katzenberg, chief executive officer of Dreamworks. He anticipates that the center will not only become a highly popular attraction for Shanghai residents but also for international tourists.
Allan Zeman, founder of Lan Kwai Fong, said the Dream Center will facilitate the development of the Xuhui district where it is located.
Li Ruigang, founder and chairman of CMC Capital Partners, hopes the center will help to promote the development of the cultural and creative industry of Shanghai.
CDB Capital is the main investor for the Dream Center. It is the financial company's first and largest single investment into an urban cultural conglomerate in Shanghai.