Osaka may build Par park

Western Japanese city also home to struggling Uni complex

TOKYO -- A Japanese real estate investor is looking to build a hotel and entertainment complex in the western city of Osaka, with designs and attractions based on Paramount Pictures' films.

Sun Capital Management and its investment arm Osaka Investment Management said they were exploring the development of a Paramount-branded complex that would include retail, dining and entertainment facilities and a five-star hotel.

Paramount, a unit of media conglomerate Viacom, said in a statement that it may license intellectual property from its film library and help design the project, but would not be an investor.

The resort would be about 20 kilometres (12 miles) away from Universal Studios Japan's struggling theme park, which was sold to a Goldman Sachs-led consortium earlier this year as the number of visitors to its attractions -- based on movies "Spiderman" and "Jurassic Park" -- fell.

Sun Capital spokesman Yuji Kirishima said they had not yet raised the funds for the project or talked with the Osaka government about potential assistance.
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