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Disney Fever Sweeps Shanghai

Residents scooping up property, hoping for a payoff if city gets theme park

By Matt Cantor,  Newser Staff

Posted Jul 26, 2008 9:23 AM CDT
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(Newser) – As rumors fly about Disney’s interest in building a theme park in Shanghai, residents are already taking action to profit from the project. They're adding on to their property and establishing false businesses, figuring they’ll be compensated for the loss of such holdings if Disney takes control of the area, the Wall Street Journal reports.

Disney has shown interest in a park for years, but as yet there's “no agreement and no deal,” said a company spokesman. Some involved say Disney may work out a partnership with at least three firms owned by the Shanghai government. But the murky status of the plan hasn’t stopped people from snapping up $1.4 million houses in the area, perhaps enticed by a sales brochure adorned with Mickey Mouse ears.

Guests wait in long lines for the Dumbo ride at the Walt Disney World Magic Kingdom theme park in Lake Buena Vista, Fla., Thursday, May 17, 2007.
Guests wait in long lines for the Dumbo ride at the Walt Disney World Magic Kingdom theme park in Lake Buena Vista, Fla., Thursday, May 17, 2007.   (AP Photo/John Raoux)
In this photo provided by Disney, fireworks light up the sky on Cinderella Castle at the Magic Kingdom in Lake Buena Vista, Fla. Thursday, July 3, 2008.
In this photo provided by Disney, fireworks light up the sky on Cinderella Castle at the Magic Kingdom in Lake Buena Vista, Fla. Thursday, July 3, 2008.   (AP Photo/David Roark)
A mother and a son look at a Disney bag at a toy store Monday, Dec. 10, 2007 in Shanghai, China.
A mother and a son look at a Disney bag at a toy store Monday, Dec. 10, 2007 in Shanghai, China.   (AP Photo)
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A deal in August?
AFP

 
China • Disney • Shanghai • property values

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