China's first Disney theme park and resort will open in Shanghai on 16 June, the Walt Disney Company has announced. The Shanghai Disney Resort was approved by the Chinese government nearly seven years ago.

The resort, located in the Pudong District of Shanghai, will be Disney's first resort in mainland China. Hong Kong has one already.

Spread across 963 acres, the Shanghai Disney Resort has been built at an estimated cost of CN¥34bn (£3.8bn, €5bn, $5.5bn). The project, which was given the green light in November 2009, is a joint venture of Walt Disney and local government-owned Shanghai Shendi Group.

The Shanghai resort will have the Disneyland theme park, two themed resort hotels, a shopping, dining and entertainment centre called Disneytown and a recreational area, Wishing Star Park, with gardens and a lake.

The company said the Shanghai Disney Resort will offer "all-new" experiences tailored for the people of China. "When it opens in June, Shanghai Disney resort will be a one-of-a-kind, world-class destination that is authentically Disney and distinctly Chinese," Robert A Iger, Walt Disney's chairman and chief executive officer, said.

"The resort reflects Disney's legendary storytelling along with China's rich culture, and showcases some of the most creative and innovative experiences we've ever created," he added.

The Enchanted Storybook Castle is being billed as the largest and tallest castle at any Disney theme park around the world. The park will feature six themed lands – Adventure Isle, Gardens of Imagination, Mickey Avenue, Tomorrowland, Treasure Cove and Fantasyland – centred around the castle.