What's new

World Fairytale Land | Hainan China | Theme Park

TPoseOnTantrum

Hyper Poster
Looks like this park may be in jeopardy. But that is inconsequential compared to whats going on around it.

Its owner, Evergrande Group, is presently in massive financial trouble. Although the relatively recent parks operation is run under their Tourism & Entertainment subdivision (side note, RCDB lists them as having 4 amusement parks, all under construction), its primarily a real estate corporation, and was once China's largest real estate developer for quite some time after its founding in 1996. It's experienced growth through the common Chinese business tactic of borrowing and building, borrowing and building. They've been quite liberal in their spending and gotten into some serious debt over the years, in which they presently owe ¥2 trillion / $305 billion / £220 billion in liabilities, making them the world's current most indebted developer.

**** suddenly went sky high over the last few days in particular. COVID dealt them a serious blow, and their stock has dropped by 90% over the last 14 months. Right now, the Chinese courts have amped up the pressure on their inability to pay, and with a bailout from Beijing being extremely unlikely, the corporate's collapse has all but become inevitable. Investors have been staging massive protests at their Shenzhen HQ and authorities are preparing to organize a restructuring if necessary. Chinese banks were informed today that they would not be able to make their next major payment on September 20. Backed against the wall, the corporate have engaged financial advisors to examine their limited options. A controlled collapse is presently seen as the hopeful scenario, with the intention of protecting smaller investors. All eyes in the country are on the Evergrande crisis.

Evergrande's outright collapse would deal a sucker punch to the Chinese stock market and cripple the real estate/developer sector, which makes up a quarter of China's economy. That in turn would lead to financial turmoil and civil unrest, two things that Beijing has put their best efforts into staving off. Not exaggerating in the slightest bit.

Where does Ocean Flower Island Fairyland and the theme park division stand in this? It and the artificial island that it sits on is a major asset, and one that they've probably eyeballed selling off out of desperation. Potential buyers, however, have been keeping their distance from the company as they try to alleviate their debt, so at this time nothing is known.

Read specifically about the park situation at Blooloop;
More reading;
 
Last edited:

roomraider

Best Topic Starter
Rcdb lists the 4 Evergrande parks we know are getting coasters. I have at least 15 bookmarked on Google Earth being partly under construction. Everywhere from Wuhan to Shanghai had parks in various stages of construction.

Unfortunately I can't see any of these beyond the most complete ones ever being finished.

I'm not home for a few weeks so can't grab my list but I'll post some images when I do get back.
 

DeathmetalmikeNL

Roller Poster
has anyone got an update on this park? the latest update was from april.
im really curious to see the pov of the vekoma firestorm :O

would be a shame if the park was never finished
 

Niles

Hyper Poster
has anyone got an update on this park? the latest update was from april.
im really curious to see the pov of the vekoma firestorm :O

would be a shame if the park was never finished

So looking at recent images it still looks quite unfinished in some areas and done in others, the source where the pictures are from seem to show while unfinished you can just enter and walk round the site, cannot see any workers in the images.

1666435033923.png1.PNG
2.PNG1666442340922.png
1666442476085.png
1666442490791.png
1666442504455.png
1.PNG


Source & Source Via Theme park x
 

roomraider

Best Topic Starter
Having followed Chinese parks for as long as I have.

I wouldn't be surprised if this never opens because of the companies issues.

Also I wouldn't be surprised if it sits dorment for years and then opens in 5 years.

And that explains the Chinese park market pretty well.
 
Top