Developers Offer a Peek at Shanghai’s Dream Center; Big projects like the Dream Center have been more heavily scrutinized lately amid concerns about over building and tightened credit in China

Developers Offer a Peek at Shanghai’s Dream Center
March 20, 2014 9:48 a.m. ET
SHANGHAI— DreamWorks Animation SKG Inc. DWA +0.22% and its Chinese partners say they plan to build live performance theaters and concert halls in a 15 billion yuan ($2.4 billion) Shanghai project that will open in 2017 or early 2018.
“The size and scale [of the project] has gotten bigger and bigger,” said Jeffrey Katzenberg, DreamWorks Animation’s chief executive. “Securing the necessary approvals and getting financing took a longer time than expected.”

He spoke to The Wall Street Journal on the sidelines of a press event at a dome-shaped performance hall that was once a cement factory. The hall will eventually be part of the larger project, which is called the Dream Center.
Plans for the Dream Center were first unveiled in 2012 and the project had an opening date in 2016.
Li Ruigang, chairman of investment fund CMC Capital Partners, the riverside project’s lead partner, said the Dream Center “faces many hurdles and challenges,” adding that the partners “supported and tortured one another” along the way.
Dream Center will be jointly developed by Shanghai Media Group’s CMC, Hong Kong-based developer Lan Kwai Fong Group, and DreamWorks. It is partly funded by China Development Bank. The partners didn’t reveal the breakdown of the funding structure.
Big projects like the Dream Center have been more heavily scrutinized lately amid concerns about over building and tightened credit in China. But Mr. Katzenberg noted that the progress wasn’t affected by the slowing economy.
The project has a total gross floor area of 463,000 square meters and will include offices, black box theaters and restaurants.
Lan Kwai Fong Group Chairman Allan Zeman said that the group worked with 15 international and local architects to come up with designs for the T-shaped site and added that the design plan isn’t complete.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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