04 August 2017
ASIA’S FIRST ‘DUNGEON’ ATTRACTION TO OPEN FOLLOWING AGREEMENT BETWEEN MOSAIC SHANGHAI AND MERLIN ENTERTAINMENTS PLC
INTERNATIONAL TOURIST ATTRACTION SET TO OPEN IN SUMMER 2018
Retail asset management specialist Pradera Retail Asia, the newly appointed Asset Manager of Mosaic Shanghai, has executed a lease agreement with Merlin Entertainments plc (‘Merlin’), the leading global visitor attractions company, to open ‘THE SHANGHAI DUNGEON within Mosaic Shanghai. THE SHANGHAI DUNGEON attraction, the first of its kind in Asia, is due to open in late summer 2018.
Pradera Retail Asia is planning to renovate the fourth floor of Mosaic Shanghai to accommodate the new attraction, which will complement a planned redevelopment designed to enhance the mall’s position as leading unique shopping, leisure and food and beverage destination for consumers on Nanjing Road East. With theatrical actors, special effects, stages, scenes and rides to entertain, horrify and delight in equal measure, the new attraction will also help broaden Mosaic Shanghai’s appeal to a younger profile and the millennial demographic.
Merlin chose Mosaic Shanghai as the ideal location for its first DUNGEON attraction in Asia because of the mall’s location on the most popular pedestrian street in Shanghai for both local Shanghainese and tourists. Designed to emulate the world-famous LONDON DUNGEON in the UK, also run by Merlin Entertainments, the Shanghai equivalent will use a combination of authentic and atmospheric themed sets, live actors, witty scripts, and cutting edge technology to take visitors on a journey back in time. They will see, hear, smell and experience some of the dark history, events and people that shaped the city. Merlin Entertainments already runs the Madame Tussauds, LEGOLAND Discovery Centre and Chengfeng Ocean World attractions in Shanghai.
Rhys Evans, Head of Asset Management at Pradera Retail Asia said: “We’re thrilled to announce this agreement with Merlin Entertainments and the future opening of the first Dungeons attraction in Asia. This is a further step towards our aim of establishing Mosaic Shanghai as the most desirable place for young locals and visitors to meet and enjoy themselves.”
John Jakobsen, Chief New Openings Officer, Merlin Entertainments plc said: “We are delighted to bring to China and specifically to Shanghai the very unique, entertaining and thrilling DUNGEON experience. This attraction has proved to be very successful across the globe and, along with the invaluable support of the forward-thinking team at Pradera Retail Asia, we are looking forward to creating an experience that will engage and delight local and international visitors to Shanghai. While aimed at young teens, we also know that it will be equally enjoyed by their friends and family, and by young adults who will be particularly attracted to the evening and special events we will run. We do not believe that there is any other attraction quite like a DUNGEON which remains true to the history of Shanghai and finds entertaining ways to tell some very dark and mysterious stories.“
Shanghai is one of the fastest developing cities in the world with seven per cent growth over the last five years, a population of more than 24 million people and in excess of four million tourists visiting in the first half of 2016 alone. Mosaic Shanghai is located on the busiest pedestrian street in the city, positioned next to three subway exits, and is surrounded by offices, hotels and apartments, capturing 160,000 visitors every week.
This important lease for Mosaic Shanghai is the latest announcement for the nine-month-old Pradera Retail Asia, which was founded in September 2016. Pradera Retail Asia is a joint venture between specialist international retail real estate fund and asset manager Pradera, and Macquarie Retail Real Estate Management Limited, that now manages four retail property assets in China with a total gross leasable area (GLA) of 200,000 sqm and located in Chongqing, Qingdao, Xi’an and Shanghai.