Universal Studios Japan (USJ) has said its upcoming Nintendo attraction will be developed at a cost of ¥50bn (US$485m, €440m, £369.5m) – a significant increase on previous estimates.

By comparison, the new attraction – which will be a fully immersive Mario-themed land – will cost around ¥10bn (US$97m, €88m, £73.9m) more than its highly successful Wizarding World of Harry Potter attraction, which has been an unrivaled success since opening in 2014.

According to USJ, the attraction will exceed the size of its Harry Potter element and will feature multiple attractions, dining options and retail venues. The mainly Mario-themed expansion will take four years to develop at a cost of US$350m (€317.5m, £266.7m), with the opening timed to coincide with the 2020 Olympics and Paralympic Games, which are to be hosted in Tokyo.

Nintendo has been riding high recently, with its stock value soaring thanks to the success of Pokémon Go which has more than doubled the company’s market value in a matter of weeks, overtaking rival Sony for the first time in terms of stock value. Whether the game will be incorporated into Nintendo’s theme park attractions at Universal remains to be seen.