…el board member Ding Benxi has been out of contact since September (Image: Dalian Wanda) Ding Benxi, a retired former president of Dalian Wanda and current non-executive director of the Chinese developer’s hotel arm, has become the third Wanda personality to go missing this year as the group scrambles to meet debt obligations and launch a stalled mall IPO. The board of Wanda Hotel Development has been unable to contact Ding since 1 September, it s…
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Dalian Wanda Buys Shanghai Commercial Site for RMB 575M
…eveloper is set to add to its portfolio of nearly 300 shopping malls after Dalian Wanda Commercial Management Group purchased a site in southern Shanghai for RMB 575 million ($85.5 million). Wanda Commercial, the development unit of Wang Jianlin’s Dalian Wanda Group purchased the site in Minhang district’s Maqiao town at a government auction, complete with planning approval to develop a shopping centre of up to 89,003 square metres (958,020 square…
Dalian Wanda Revenues Drop 14% Despite Global Expansion Spree
Does the Wanda Way now include double-digit annual drops in revenue? Dalian Wanda Group chairman Wang Jianlin has used his status as China’s richest man to offer speeches and books on the way he built a local real estate company in northern China into one of the world’s largest property developers. A release of preliminary 2016 financial results for Wanda suggests that there may still be few chapters to write on this rapidly expanding conglomerat…
Dalian Wanda Raises $3.7B in Hong Kong’s Biggest IPO of 2014
Dalian Wanda boss Wang Jianlin is about to get his hands on another $3.7B Dalian Wanda Commercial Properties has raised US$3.7 billion through a Hong Kong IPO, after the Chinese real estate company belonging to PLA officer turned billionaire businessman Wang Jianlin is said to have priced its shares today. A report in FinanceAsia citing sources close to the deal, said that underwriters predicted that shares would price at HK$48 per unit, although…
Dalian Wanda to Close 120 Venues as Retail Business Struggles
Wanda’s department stores have failed to pull in customers Dalian Wanda, the commercial real estate developer controlled by Chinese billionaire Wang Jianlin, is planning to close 40 of its department stores and 80 other venues as the company shifts its focus to new business areas such as ecommerce and finance. The move to close the stores, which have yet to be identified, is the second round of venue closings for Wanda this year. The move would d…
Dalian Wanda Sells Failed Madrid Project at $75M Loss
…ocals After abandoning plans to renovate a Madrid landmark, Wang Jianlin’s Dalian Wanda Group has sold off the historic Edificio Espana at a loss equivalent to $75 million, according to a statement to the Hong Kong stock exchange last week. Wanda, which also has invested in the Atletico Madrid football club, purchased the long-vacant skyscraper for €260 million (then US$358.6 million) in early 2014, with plans to renovate the 25-storey structure i…
Dalian Wanda Signs Deal with Sony After Failing to Buy Paramount Stake
…$2 billion by RBC Capital Markets, however, the Los Angeles Times reported Dalian Wanda offered as much as $5 billion for the stake. Wang last month said that he intends to buy at least one major US studio, and in July Wanda announced it plans to increase revenue from its entertainment business to RMB 150 billion ($22.5 billion) by 2020. Earlier this year, Wang acquired Legendary Entertainment, the production firm that created the Dark Knight seri…
Dalian Wanda Signs Deal for $10B Industrial Zone in India
…nvestor has now signed up to be the biggest foreign player in India, after Dalian Wanda reached preliminary agreement with the Indian government for a $10 billion industrial zone. The plan for Wanda Industrial New City in India’s Harayana state would cover more than 13 square kilometres in its first phase and, according to some estimates, would be the largest foreign investment in India to date. The deal comes after Wanda boss Wang Jianlin met wit…
Dalian Wanda Opens 100th China Mall in Run-Up to HK IPO
…a second-tier city if it didn’t have a laser-light display with a fountain Dalian Wanda, the real estate developer belonging to tycoon Wang Jianlin, celebrated the opening of its 100th Wanda Plaza mall on Friday, just in time to help out with the company’s upcoming IPO. The commercial property firm celebrated the opening of its latest shopping centre, in Xishan, Kunming, by staging a simultaneous promotional campaign across all 100 of its Wanda Pl…
Dalian Wanda Plans $1B Singapore REIT Listing
…te empire back into the public arena China’s largest commercial developer, Dalian Wanda Group, is planning to list a real estate business in Singapore, in a deal that could value a portfolio of properties at over $1 billion, according to a Wall Street Journal report. The potential Singapore-listed entity would be structured as a real estate investment trust (REIT) and offer the Beijing-based developer a chance to once again list its real estate as…
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