Walt Disney Company and joint venture partner Shanghai Shendi Group have commenced work on the construction of the new Shanghai Disney Resort in China.
It comes after the project was approved by the Chinese government, with the resort to be the first Disney-themed attraction to be developed on the country's mainland.
Due to open in five years, Shanghai Disney Resort will be home to Shanghai Disneyland - a Magic Kingdom-style park featuring a number of themed lands.
The project aims to combine well-known Disney stories and characters with new attractions and experiences specifically designed for the Chinese population.
At the centre of Shanghai Disneyland will be an interactive castle offering entertainment and performance experiences unique to the attraction, as well as other large-scale venues.
The theme park will also feature an 11-acre (4.5-hectare) green space to ensure it reaffirms a focus on sustainability and nature that will be integrated throughout.
Initially set to cover a 963-acre (389.7-hectare) site near Pudong, the resort will be built with scope to expand in future and will also feature two themed hotels and a lake.
Around ¥24.5bn (£2.3bn, C2.6bn, US$3.8bn) of initial investment will go towards the theme park element, with a further ¥4.5bn (£423.5m, €482.5m, US$693.1m) towards other parts.
Walt Disney Company president and chief executive officer Robert A Iger said: "[This] marks a significant milestone in the history of the Walt Disney Company.
"Our Shanghai resort will be a world-class family vacation destination that combines classic Disney characters and storytelling with the uniqueness and beauty of China."