SHANGHAI will build a smaller version of Michael Jackson's Neverland Ranch on Chongming Island.

The first phase of the project, planed by a group of investors from neighboring Zhejiang Province and which will cover 667,000 square meters, will be completed within a year, according to the Shanghai Morning Post today.

Neverland Ranch in California, named after Neverland, the fantasy island from Peter Pan, includes a private amusement park, a floral clock, a zoo, lakes, cinemas and an Indian village. It was Jackson's home from 1988 to 2005.

The smaller Neverland Ranch in Shanghai will have a similar basic structure and layout, Qiu Xuefan, vice director of Wenzhou Chamber of Commerce, one of the planners of the project, said.

The total cost is expected to be around 100 million yuan (US$14.6 million) and will include a farm and an equestrian park. Michael Jackson memorabilia, obtained through auctions and private connections, will be on display, Qiu said.

The park will be located at Xianghua Town of Chongming County, a one-hour drive from downtown Shanghai after the opening of the tunnel and bridge connection to Pudong at the end of the year.