Mike Newell told paper The Sunday Mail: "I think of myself as being really lucky. I'm going to make the most expensive film there has ever been."
That could see the budget for the film at over £110m, which is how much Titanic is reported to have cost.
Waterworld and Terminator 3 are thought to have cost almost £100m, the same as each of the Lord of the Rings movies.
He said he was in Paris looking for "giant women" and "French schoolgirls", presumably to play the headmistress and pupils of Beauxbatons.
But it'll be a long wait until fans get to see the film, as it's not expected in cinemas until 2005.
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