In a press release today, Comcast NBCUniversal, parent company of Universal Parks and Resorts announced the approval of a new Universal Theme Park to be built in Beijing.

Development of a world-class Universal theme park in Beijing has been approved by the Chinese central government. The theme park will include all-new attractions designed especially for it as well as some of Universal’s most popular themed entertainment experiences from around the world.

The overall investment in the Universal Beijing theme park will be more than 20 billion RMB ($3.2 billion USD). It will be jointly owned by Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (BSH Investment), a consortium of four state-owned companies, and Universal Parks & Resorts, a business unit of Comcast NBCUniversal. According to the Los Angeles Times, Universal Parks & Resorts signed an agreement to develop the Beijing park in December of last year, the state-run Beijing News said, and the National Development and Reform Commission, which approves such projects, signed off on the plans last month.

In the concept art above, it appears the park will see attractions similar to The Incredible Hulk Coaster, Jurassic Park River Adventure, Hollywood Bowl Stage, as well as China’s own “Wizarding World of Harry Potter.” (Photo via Comcast.com)

The Universal Beijing theme park and support facilities will occupy an approximately 300-acre site located northwest of the intersection of the Beijing-Harbin Expressway and the East Sixth Ring Road in Tongzhou District, Beijing. The theme park will be accompanied by a Universal CityWalk entertainment complex featuring multiple retail, dining and entertainment opportunities, and a first-ever Universal-themed resort hotel, collectively forming the core components of the resort. Additional phases are planned, with the resort eventually encompassing approximately 1,000 Acres.

Specific details for Universal Beijing as well as an opening timeframe will be announced at a later date, as BSH Investment and Universal Parks & Resorts formalize their agreement and complete all steps necessary to move this project forward. Various media outlets are reporting that the Resort will open in 2019.

The theme park will blend China’s rich cultural heritage with Universal Parks & Resorts’ unique brand of compelling family entertainment. The new destination is the latest project for Universal Parks & Resorts, which has theme park locations in Orlando, Florida and Hollywood, California as well as licensed theme parks in Osaka, Japan and Singapore. More than 35 million people visited Universal’s existing theme parks around the globe in 2013.

Asked specifically what “Chinese elements” the park would include, Chairman and Chief Executive Officer of Universal Parks & Resorts, Tom Williams, refused to offer specifics but said the company had already conducted “extensive research” on this matter and said the park would “pay proper respect and homage to Beijing” and Chinese culture overall.

Williams would not detail what marquee attractions the Beijing park would include either, but rides based on the “Transformers” franchise and the “Despicable Me” series as well as “Harry Potter” seem likely candidates based on those films’ popularity in China. The fourth installment in the Transformers series, “Transformers: Age of Extinction,” became the top grossing film ever in China this year.

“Chinese people love the movies and exciting entertainment, and we are proud to introduce China’s first Universal theme park and CityWalk, as well as the first Universal-branded hotel anywhere in the world,” said Duan Qiang, Chairman of Beijing Tourism Group and BSH Investment.

“Universal Beijing will showcase blockbuster movie themes and present entertaining family shows that will highlight the very best of popular culture. It will be a tourism crown jewel, not only for Beijing but for all of China, bringing extraordinary entertainment experiences to the Chinese people and to our guests from around the world. In bringing Universal to China, we will also share the best of China with the world,” Duan added.

“Universal Beijing will create a higher level of economic growth, understanding and cultural exchange between our two countries. Together, we will create a unique experience that spotlights hugely popular Western entertainment concepts as well as China’s rich cultural legacy. This will be an opportunity to build relationships with the Chinese people on a direct and personal level,” Williams said.

“We are excited to be working with our partners at Beijing Tourism Group and at BSH Investment, under the leadership of Chairman Duan, and we are thankful for the strong support of the Chinese central and Beijing municipal governments,” Williams added.

Los Angeles Times Reporter Julie Makinen notes that China is expected to build 59 theme parks by 2020, according to a recent report by industry analyst AECOM. The $4.4-billion Shanghai Disney is slated to open in late 2015 with a Magic Kingdom-style theme park, several hotels and a Downtown Disney-style shopping center. DreamWorks Animation, through its China-based Oriental DreamWorks, is currently building an entertainment complex in Shanghai.

Six Flags recently announced plans to build and operate several parks in China over the next decade, with one in Tianjin — an hour train ride from Beijing — expected in 2018.

Information from the Los Angeles Times and HollywoodReporter.com were used in this article.