Malaysia-based Lion Group has reportedly announced plans to develop a US$2.4bn theme parks and film studio in China.

According to Bloomberg, the company intends to create Dream City in Kunming, the capital of Yunnan province in the south of China, at a cost of 17bn yuan (£1.2bn, 1.5bn euro).

Scheduled for completion in five years, the complex would consist of a film studio, amusement parks, hotels and golf courses as well as a film school which could be jointly operated by Beijing University and the Beijing Film Academy. Funding for the project is expected to come from Lion Group – which has interests in steel and controls the Beijing-based Parkson Retail group – the city government of Kunming and China International.

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