Construction scheduled to begin on the 51-acre site in the fourth quarter of this year.

Universal Studios to build Hollywood-themed resort in Beijing

Universal Studios is planning to open its third Hollywood movie theme park in Asia with the development of Universal Studios Beijing.

Working in collaboration with the local state tourism company, construction is scheduled to begin on the 51-acre site in the fourth quarter of this year.

Local media reports that the construction works set to take place in the Chinese capital have been set a budget of 12 billion yuan.

The Hollywood Reporter notes that National Development and Reform Commission had filed an application to begin construction, and the demolition of existing buildings was ongoing, with the aim of opening the park in January 2018.

The news follows earlier reports that Universal Studios was looking to expand its theme park presence across the Asian territories.

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