In 1955, Walt Disney entralled the world with the construction and opening of his Disneyland Park in Anaheim, California. Today, the original park is now a multipark resort and there are parks and resorts in Florida, Tokyo and Paris. In August of 1998, Disney announced their intentions to build the fifth such resort around the world in Hong Kong. On 2 November 1999, the Chief Executive of the Hong Kong Special Administrative Region Government The SAR Government, Mr Tung Chee Hwa, announced that Disney would be building a theme park and resort hotel complex on Hong Kongs Lantau Island. The project would be undertaken as a joint venture between The SAR Government and Disney under the banner of Hong Kong International Theme Parks Limited. The SAR Government has a 57 control of shares in the project, while Disney retains the other 43. The projected cost of the park was around the $14.1 billion mark.

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