Euro Disney Moves Forward On Projects

Having cut its losses, Euro Disney has quietly pushed ahead with its real estate development, according to a letter to shareholders of the resort and theme park operator.

“We have resumed modestly and cautiously our real estate development, when we entered into an agreement with the Georges V Habitat group to build 600 housing units on our site,” Chairman Philippe Bourguignon said in the letter made public Monday.

The letter was published in the company’s 1993-94 annual report, and mailed over the weekend.

Euro Disney had grand ambitions to develop the land surrounding the theme park near Paris when it opened its doors in April 1992. Heavy losses and a real estate slump forced it to delay those plans.