Taichi park planned for China
US-based developer Ikonic Entertainment Group has secured a contract with Taichi Lake Group to develop what has been pegged as the largest theme park in China.
With a total investment of US$3.1bn, the as-yet-unnamed theme park will be set in Hubei Province's Wudang Mountain Region.
Ikonic will provide master planning, concept creation, schematic design, design development and construction oversight services in support of the project's environment-related components, which, in addition to the Taichi Kung Fu-themed park, will include a $50m live show and related media production and publishing totalling over $300m.
The Wudang Mountain area is the birthplace of Taichi Kung Fu, an important centre of Chinese Daoist culture and also a thriving commercial hub.
In January, Los Angeles Mayor Antonio Villaraigosa attended a signing ceremony in Beijing as part of a 12-day trade mission to Asia in support of the city's exports, job growth, increased investment and tourism.
"The co-operation agreement represents the future," Villaraigosa said. "We are combining our strengths, investing in one another, and fostering greater tourism and business between the US and China.
"Ikonic and Taichi's partnership will bring out the best of both cultures while generating economic prosperity for Los Angeles and China."