I know rumors of another gate have come and gone, and Universal (under various owners) has bought and sold land churning the mill even more over the years, but I'm having a hard time believing they aren't serious about a near term build at this point. Given the recent trends in park additions by Universal and Disney, extreme immersion, more screens, more customization for guests, I'll be fascinated in what they do with an entire park from a blank canvas.
I know Disney opened the park in Shanghai not long ago, but there is a big difference between opening a first park in China and a park in an area that is already a brutal free-for-all for advanced theme parks. Universal is going to have to be very creative and innovative to get their money out of this massive a project. I wonder how many rides it will open with or if they will follow in the Disney pattern of fewer rides at each park. Rides are, and always will be, what drives attendance. I've often thought Disney's attendance struggles with AK and DHS were 100% self inflicted by cheaping out on the number of rides (and continuing to do so with Avatar and SW:GE both cutting rides), so it will be fascinating to see what balance Universal strikes starting from scratch.
