DreamWorks out of the picture at Shanghai DreamCenter – what now for the ambitious project?
Remaining investors including China Media Capital and Hong Kong’s Allan Zeman say business and cultural development is on track
Things haven’t worked out as planned at the Shanghai DreamCenter.
DreamWorks Animation, intended to be the star attraction at the multibillion-yuan business and cultural development beside the Huangpu River, is out of the picture.
The project’s remaining partners insist the DreamCenter remains on track, despite the departure of the animation powerhouse, creator of cartoon blockbusters Shrek, Madagascar and Kung Fu Panda, which is reportedly re-evaluating its activities in China.
Hong Kong-based businessman Allan Zeman, whose Lan Kwai Fong Group became a key player in the project in 2014, says DreamWorks is no longer actively involved, but work is ongoing.
“The ‘Dream’ in DreamCenter doesn’t necessarily have to do with DreamWorks. You have the China Dream, too. It just so happens that DreamWorks was there when we named it. It’s a good name so we will keep it,” Zeman says.
DreamWorks founder Jeffrey Katzenberg had been a high-profile champion of the project since he and Li Ruigang, chairman of China Media Capital group, unveiled plans in 2012 for the cluster of grade A office buildings, cinemas including an Imax multiplex, and retail and entertainment venues in Shanghai’s fast-developing West Bund area.