Beijing, China — Ikonic Entertainment Group announced that it has reached a comprehensive cooperation agreement with Shiyan, China-based Taichi Lake Group to design and develop a $3.1 B project in Hubei Province’s Wudang Mountain region. The developers describe the project as a “world class leisure resort” that will include a large theme park.
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.
“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.”
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 a 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 specialeffects, 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 was formed in Los Angeles to provide 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. The goal of the company is to design, build, finance, manage and turn over development of entertainment real-estate projects targeting China. www.ikonicgroup.com
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