Chinese firm plans Gold Coast ‘Legendary Kingdom’ theme park

Even if the tragedy that struck Dreamworld Australia in October – which killed four visitors – is still fresh in the memory of many Australians, there are still companies that want to build theme parks in the country. On Monday, a Chinese company said it would want to invest US$400 million (A$542 million) in Gold Coast to take advantage of the surge of Chinese tourists in Australia.

Songcheng Performance Development, a listed entertainment company based in Shenzhen, says its board approved plans for the Australian Legendary Kingdom theme park in Nerang. The first overseas investment of Songcheng would feature an Aboriginal Cultural Village, a Mysterious Orient precinct and a Wild Australia stage show, Australian Financial Review reports.

The firm would spend US$66 million (A$89 million) in purchasing land, located 10 kilometres from Surfers Paradise, at Nerang. The US$300 million (A$406 million) would be for design and construction of the Australian Legendary theme park.

According to Gold Coast Bulletin, Australian Legendary Kingdom would be built on a flood-prone land between the Nerang River and Nerang train station. The 40.45-hectare land at Lakeview Drive is close to Metricon Stadium.

Roland Evans, agent of Canford Property, who negotiated the unconditional sale, says it would result in former owners of the land – Wanda and Ridong – receiving US$55 million (A$74 million) or more than twice the US$20.8 million (A$28.1 million) it paid in 2013. Evans says the price appreciation indicates how strong Chinese interest is in Australian properties, particularly in Gold Coast.

Songcheng, in its filing with the stock exchange, says the overseas investment meets the company’s overall development strategy and is a key strategy for Songcheng to become the top stage show company in the world. The firm has secured support from Gold Coast authorities and approval from the Foreign Investment Review Board. Gold Coast Mayor Tom Tate would meet with Songcheng officials in December.

Songcheng operates the Sanya Romance Park, Sanya Songcheng Color Zoo, Sanya Songcheng Ice and Snow World and Sanya Songcheng Langlanglang Water Park which receive millions of visitors each year.