Wanda Signs Deal with UK's Pinewood Studios

LONDON, March 7, 2014 /PRNewswire/ -- Dalian Wanda Group Co., Ltd. ("Wanda"), China's largest commercial property company and Pinewood Shepperton plc ("Pinewood"), a leading provider of services to the global film and television industry based in the UK, on March 6, 2014, announced at a signing ceremony at 10 Downing Street, hosted by Deputy Prime Minister Nick Clegg, that the two have entered into a Consultancy Services Agreement.

According to the deal, Pinewood will advise Wanda on the design and construction of a new film and television studio complex. 

Opening in 2016, the film studio will form part of the "Qingdao Oriental Movie Metropolis", located west of Qingdao, Shandong province, China.

The film studio will cover a 200 hectare area and comprise sound stages, workshops, a post-production area and themed backlots. Once completed, it will be China's largest film and TV studio base.

The Dalian Wanda Group Co., Ltd. is a Chinese conglomerate with activities in commercial properties, luxury hotels, department stores, cinemas, culture & tourism. 

Deputy Prime Minister, Nick Clegg said: "Pinewood Studios are world leaders in the film industry and are renowned for their cinematic knowledge and expertise. The recent success of the multi-Oscar winning Gravity, which was filmed at Pinewood and Shepperton, is one of many examples of this."

"I am very pleased that this deal means British experts will be advising on the design and construction of one of China's largest film and TV studio facilities," added Clegg.

He noted that the agreement is great news for the British film industry, as well as a welcome boost to the wider economy.

Ivan Dunleavy, Pinewood CEO, said: "We're delighted to be working with Wanda on the design of the visionary Qingdao Oriental Movie Metropolis project, which we hope will be another successful step in our growing relationship with the Chinese film industry."

Wang Jianlin, Chairman of the Dalian Wanda Group said: "Qingdao Oriental Movie Metropolis will be the most advanced movie studio with the largest investment in the world. Wanda has invited the world's leading companies and talent to develop this project. I believe that with its opening in 2016, it will become one of the major centers for global film."

SOURCE Dalian Wanda Group Co., Ltd.