Indoor Amusement Park To Be Founded in HK

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 ◆ Indoor Amusement Park To Be Founded in HK

Teddy Bear Kingdom, an indoor amusement park featuring a big collection of teddy bears, will open in Hong Kong this summer.

This was announced recently by Teddy Bear Kingdom (HK) Limited,jointly held by several Japanese and Hong Kong companies.

The company has reached an agreement with New World Development Limited on leasing an area of 70,000 square feet at Palace Mall, a shopping mall at Hong Kong's famous Tsim Sha Tsui scenic spot, to build the kingdom.

The kingdom, with an investment of 12 million U.S. dollars, was designed to imitate a country of Teddy Bears, with forests, schools, sea, shops, restaurants, museums and playgrounds.

Andy Lam, director of the Teddy Bear Kingdom, said he hoped that the new place will provide entertainment for both Hong Kong residents and tourists of various ages and nationalities.

Hong Kong Island Development Ltd, a member of New World Group, holds 30 percent of the Kingdom's stake and Hong Kong listed company Harmony Asset Limited owns the same share, while the rest belongs to the Japanese side.