MIPIM UK 2015: A Chinese construction company has invested the first slug of money into the UK’s biggest theme park project.
SinoFortone has agreed to invest £100m in the £3.2bn London Paramount Entertainment Resort scheme near Dartford in north Kent. The deal was signed at MIPIM UK this morning.
It is the first slice of around £900m of equity that is being sought for the Disneyland-style project by Kleinwort Benson.
The 111-acre scheme, which will also comprise theatres, 5,000 hotel bedrooms, Europe’s largest water park and 215,000 sq ft of event space, is scheduled for completion in 2021, subject to planning. It is the first major leisure scheme to be designated a nationally significant infrastructure project by the government.
London Paramount chief executive David Testa said: “This shows that our vision for London Paramount and its location in north Kent, with excellent transport links to London, Europe and the rest of the world, is appealing to investors, residents and tourists alike.”
The project is backed by Kuwaiti European Holding, an investment fund established by the Al-Humaidi family.
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