Chinese real estate development firm Riverside Investment Group (RIG) has broken ground a US$4.6bn (€4.2bn, £3.2bn) development, which will include Asia's first Six Flags-branded theme park.

RIG – which currently has more than US$3.5bn (€3.2bn, £2.5bn) in assets under management – is partnering with Six Flags on the mixed-use development in Haiyan, south of Shanghai, which is expected to create more than 100,000 jobs. Once complete Six Flags will act as the centrepiece of the resort, which as a whole will attract more than 12 million visitors annually.

Specific attractions for the park have not yet been announced, but it has been confirmed a number of record-breaking coasters will be included, along with thrill experiences, live shows and more.

“Six Flags is synonymous with innovation and thrills for all ages, and we are delighted to partner with the Riverside Group to bring Six Flags thrills to China,” said John Odum, president of Six Flags International Development Company.

“The Six Flags park in Haiyan will be a spectacular park featuring our signature lineup of coasters, family rides and attractions and world-class shows – along with themed sections of the park that pay homage to the storied Chinese culture.”

The first piece of the development is a US$36m (€33m, £25.4m) exhibition centre, which is scheduled to be completed by the end of this year. The theme park is expected to open in 2019.

A second property in Asia might soon be on the way, with plans rumoured in April last year for Six Flags to enter the Malaysian market. Coupled with those rumours, there has long been speculation that there could be a Six Flags addition to Iskandar’s land around Singapore, but neither the park nor the developer have confirmed this.