Press Release



Aspects of Disney deal approved by ExCo


Executive Council (ExCo) has approved the Government's agreement with the Walt Disney Company at its meeting on November 16.

"There are certain aspects of the agreement which need ExCo's approval without which we cannot proceed any further with the contracts. We are very glad that ExCo Members have given their support," said Mr Mike Rowse, Commissioner for Tourism today (Friday).

The aspects which require ExCo's approval include a land grant of 50 years plus the right to renew for another 50 years, an option valid for 20 years to purchase the adjoining site (ie for the Phase 2 theme park), a Right of First Refusal to purchase a third site adjoining the Phase 2 site, and entering into a Deed of Restrictive Covenant to restrict the building height and land uses of developments in the vicinity of the Hong Kong Disneyland (HKD).

"These approvals are important as they provide certainty and allow for flexibility to cater for the future expansion of HKD as well as to ensure a pleasant and complementary environment in the vicinity of the theme park," said Mr Rowse.

In addition, ExCo has also been given its in-principle agreement to restricting flights above HKD and mooring of vessels in the waters south of it. These were essential to ensure that the operation of the theme park will not be affected by possible unauthorised overflights and to prevent the situation whereby large number of vessels may seek to anchor off shore during the nightly fireworks displays which would be hazardous. The necessary subsidiary legislation giving effect to these provisions will be submitted to ExCo in due course.

ExCo also approved the Administration's proposals to let the Hong Kong International Theme Parks Limited (HKITP), ie the joint venture company which will be the future owner and operator of HKD, to manage and maintain several government facilities near the theme park at the company's own expense. ExCo also approved in principle the granting of long-term rolling permits to HKITP to allow nightly fireworks displays at HKD.

"HKITP will be required to comply with all safety and environmental standards in operation at the time the fireworks licenses are first issued," Mr Rowse added.

End/Friday, November 19, 1999