And so the “will-it-ever-be-built” Shanghai Disneyland saga continues, tediously dragging as long as Celine Dion’s love for you.
This hasn’t stopped residents in the village of Jinjia. According to the Wall Street Journal, good ol’ Chinese opportunism has prevailed, as seen in the latest money grab proliferating in Jinjia village in Pudong. Residents strongly believe that they will be the property target for a Shanghai Disneyland, and many have taken to building faux businesses on newly rented land, temporary accommodations for construction workers or expanding their residential property by building sheds and gardens. Why? Because these residents expect that compensation will be proportional to the size of their houses, and even the number of trees on their property. Even shares of a local company located in Jinjia found its shares sky rocketing over 90%.
While this is not new to Walt Disney Company which has battled property speculators for decades whenever and wherever it scouted for new land, the penchant for property speculation amidst Chinese, should never be under-estimated.