International Business / The Pacific

Euro Disney Aims to Build Housing Development: The theme park said it hopes to eventually build a $990-million commercial and housing development near its Festival Disney shopping mall by the end of the century. The move is the third phase of the company’s longer-term strategy of developing 3,200 acres of unused land surrounding Disneyland Paris, 20 miles east of the French capital. The goal is to build a shopping center, single-family homes, hotels, restaurants and office facilities. Euro Disney Chairman and Chief Executive Philippe Bourguignon said in a letter to shareholders that developing the land depends on a recovery in the real estate market. Euro Disney’s share of the $990-million development costs would be about $20 million.