Oriental Land Co., the owner of Tokyo Disneyland and DisneySea, has announced plans to invest $4.6 billion to expand and improve the two theme parks in Japan over the next 10 years.
A big part of the investment will go to redevelop and expand Fantasyland at Tokyo Disneyland, which last year surpassed Disneyland in Anaheim in attendance.
At Tokyo DisneySea Park, the companion park to Disneyland, Oriental Land said it plans to develop a new themed port and add new attractions, restaurants and shops, according to a statement released by Disney.
The announcement follows a trend of major theme parks construction and expansion in Asia, where the growth of the middle class has created a demand for weekend and holiday activities.
20th Century Fox announced plans this summer to build a $3.5-billion theme park in South Korea.
Six Flags Entertainment Corp., which operates Six Flags Magic Mountain in Valencia, announced a partnership recently to build multiple theme parks in China over the next decade.
In April, Walt Disney Co. and a Chinese partner announced plans to add an extra $800 million to the $4-billion price tag of a Disney resort they are building in Shanghai.
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