Wu Bing, president of DMG Entertainment gives a thumbs-up to the Transformers. [Photo provided to chinadaily.com.cn]

DMG Entertainment recently announced in Beijing that it will invest about $70 million in a location-based entertainment (LBE) project.

The project, themed on the film and entertainment franchise Transformers, will premiere in the middle of 2017. It's the first one of a series the company has planned.

"We will build something that will offer a bit of theme-park, action-adventure, comedy show, as well as musical together," Wu Bing, president of DMG Entertainment, said during a news conference in Beijing on Tuesday.

The LBE themed on Transformers will involve famous producers from Hollywood and Broadway, as well as the world's top choreographers, scene designers and costume designers.

Using advanced technologies, they will bring the characters from the movies, who stand dozens of meters high and can transform into cars, into the real world, to allow audience interaction in a whole new way, Wu said.

When completed, fans will be able to enjoy an immersive entertainment experience on the site with the help of special effects that re-create moments from the movies.

The entertainment site will have entertainment-related shops, too.