A group of Chinese developers are planning to spend USD 15 million on the project on Chongming island which they hope to complete ahead of next year's Expo in Shanghai trade show.
"We want to pay tribute to Michael Jackson and, at the same time, offer the Chinese people an outlet for expressing their love toward him," an investor, Qiu Xuefan said.
Jackson's Neverland home in Santa Barbara County, California was once the site for an amusement park and petting zoo.
The 'Thriller' hitmaker moved out of the home following his child molestation trial in 2005, but still maintained a share of the property at the time of his death last month on June 25.
Published 12 July 2009, 04:52 IST