Disneyland Paris: License Extension

In mid-September a contract extension was signed for Euro Disney S.C.A. in the office of the French premier minister. The duration of the former agreement for the premises made available by the French state north of Paris was changed from 2017 to 2030. Along with this it was announced that to pursue the development of the tourist destination, further sites were added by the French government. The total area available for Disney in the future was modified from 1,943 to 2,230 hectares. Up to eight billion Euros are planned to be invested in the new destination until 2030. The construction of a 520-hectare-large eco-village (“Les Villages Nature de Val d’Europe”) as a joint venture with the Pierre&Vacances Group was highlighted here. An investment of 1.8 billion Euros was mentioned for this project. According to Disney, a third theme park – besides Disneyland and Disney Studios – is also mentioned in the newly signed agreement. However the majority of leading German media represented this fact as the new announcement for the construction of a third park. According to insiders, the initial agreement between the French government and Euro Disney S.C.A. already implied the construction of three parks, whereby the third park hasn’t been realized, yet. Thus, the new contract represents a kind of extension of time for the construction of this third park. (eap)