The plan will cost HK$10.9bn (£1.08bn), with the government injecting HK$5.8bn and Disney contributing HK$5.1bn.
The Hong Kong government’s secretary for commerce and economic development Gregory So said: “We are happy to see the Walt Disney Company’s confidence in the Hong Kong market and the future of tourism in Hong Kong, and that it continues to make significant investments to expand and develop Hong Kong Disneyland Resort.”
It will be the first Disneyland park in the world featuring ‘Frozen’ and ‘Marvel Superheroes’ themed areas. The plan will also transform the castle currently in the park.
The expansion will increase the number of themed areas from seven to nine, and the total number of attractions will increase from about 110 to over 130. Work will begin in 2018 for completion in 2023.
The government will discuss the plan with the Legislative Council next week and will also make a submission for funding approval at a later date.