Ikonic Entertainment Group Launches Major Design and Development Project in China: LA Mayor Villaraigosa Attends Signing Ceremony in Beijing
TCG Press Release
December 6, 2011
BEIJING – Ikonic Entertainment Group, recently formed and 50% owned by Transworld Capital Group, is pleased to announce that it has reached a comprehensive cooperation agreement with Shiyan, China-based Taichi Lake Group to design and develop what is to become China’s largest theme park and world class leisure resort project, set in Hubei Province’s Wudang Mountain region, with a total investment of $3.1 billion.
Ikonic will provide master planning, concept creation, schematic design, design development, and construction oversight services in support of the project’s entertainment-related components, which include a Taichi Kung Fu-themed park, a $50 million live show, and related media production and publishing, totaling over $300 million. The Wudang Mountain area is the birthplace of Taichi Kung Fu, an important center of Chinese Daoist culture and also a thriving commercial hub.
Los Angeles Mayor Antonio Villaraigosa today personally attended a signing ceremony in Beijing as part of his 12-day trade mission to Asia in support of L.A. exports, job growth, increased investment and tourism. Others in attendance included Vice Governor of Hubei Province, Zhang Tong, Shiyan City Mayor, Zhou Ji, former U.S. Trade Representative and Secretary of Commerce, Mickey Kantor, as well as over 60 members of the Chinese and international media.
"The cooperation agreement signed today represents the future: We are combining our strengths, investing in one another, and fostering greater tourism and business between the US and China," Mayor Villaraigosa said. "Ikonic and Taichi's partnership will bring out the best of both cultures while generating economic prosperity for Los Angeles and China."
Ikonic CEO Tony Christopher and Taichi Lake Chairman Yang Qingshan
It is estimated that the agreement reached between Ikonic and Taichi Lake Group will generate several hundred LA-based jobs over the next three years and tens of millions of dollars in revenues to Ikonic as well as numerous LA-based subcontractors and service providers.
“This project is an example of the very best of LA’s creative industry capabilities being exported overseas on a large scale,” said Tony Christopher, Ikonic Co-Founder and CEO. “Our goal is to demonstrate Hollywood’s truly unique ability to deliver world-class entertainment to the world,” he added.
The agreement will feature Ikonic Entertainment Group as the master designer and project manager for series of projects commissioned by Taichi Lake Group. These include: 1) A Kung Fu-oriented theme park at Wudang Mountain, Hubei Province, 2) an amusement park in Qingzhou, Shandong Province, 3) a live show combining Daoist and Taichi Kung Fu culture with Western entertainment concepts and high-tech special effects, with Ikonic as the producer and master contractor, 4) a documentary on Daoism and Taichi Kung Fu with Ikonic as co-producer with a Hollywood studio, 5) a touring show of Daoist and Taichi Kung Fu culture at US college campuses, with Ikonic as the producer, and 6) a video game featuring Taichi Kung Fu legends, with Ikonic as the producer.
“The Chinese government has established entertainment and culture as a pillar industry with the strategic objective to develop China into one of the world’s top cultural centers,” noted Jack Chen, CEO of Transworld Capital Group (TCG). With a fifty percent equity interest, TCG helped establish Ikonic and is responsible for new business development and operations management in China. “Ikonic has the unique capability to provide world-class turn-key solutions that help China meet its rapidly growing demand for tourism land development and theme parks,” he concluded.”
About Ikonic Entertainment Group
Ikonic is a new company formed in Los Angeles to provide the very best total project turnkey services to the entertainment real estate business in China. The company is the brainchild of Tony Christopher, the Founder & CEO of the Landmark Entertainment Group and Jack Chen, a Chinese American businessman and Founder & CEO of Transworld Capital Group (TCG) a financial advisory and investment firm specializing in cross-border business development and transaction management in China. Together the new company has the ability to design, build, finance, manage and turn over development of entertainment real-estate projects targeting China, the number one country in the world today in new land development.
Through its association with Landmark, Ikonic utilizes the very top talent in the world today. Considered the third best theme park design company after Disney and Universal, Landmark has a proven track record of award winning projects with Universal as its main client and projects such as the Spiderman Dark Ride, T2/3D, a live action 4D theater, Star Trek, an amazing simulator attraction, and Jurassic park to name a few of its best completed projects. Additionally, Ikonic has worked with and can bring in organizations such as Six Flags, Busch Gardens and Management Resources, each of which can provide high level operation services.
About Taichi Lake Group
Hubei Wudang Taichi Lake Investment Group Co., Ltd. specializes in investing in such areas as culture , tourism, and urban development. Aiming at building up regional comprehensive value, TLG was co-founded by a group of shareholders, including Beijing Xing Tong Investment Co., Ltd. , Zhejiang Xiang Yuan Investment Group Co., Ltd, RenHe Oriental Investment (Beijing) Co., Ltd., and Shanghai Zhong Jiuinvestment Group, etc.
About Transworld Capital Group
Transworld Capital Group is a financial advisory and investment firm specializing in cross border transactions between the Western World and Greater China. The company advises both on M&A and capital-raising transactions as well as partnerships to help businesses access the China market. More information can be found at www.transworldgroups.com.