…at the end of June 2016. Wang Sniffs Around the Bank That No One Wants Is Dalian Wanda boss Wang Jianlin itching to try his hand at European banking? The German financial service provider was put on the block nearly two years ago by Deutsche Bank, which acquired it in 2008 for €6 billion, but has struggled to find a buyer. The company’s current asking price is said to be approximately €6 billion ($6.4 billion). Despite its denial, no acquisition…
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Dalian Wanda to Spend RMB150B on Chongqing Resort and 28 More Malls
…fast-developing southwestern Chinese city. Wang’s primary holding company, Dalian Wanda Group, signed an agreement on Thursday last week with the Chongqing Municipal government to develop the shopping centres, and a “Wanda Cultural Tourism City.” The deal would make Wanda the biggest investor in Chongqing and represents an eight-fold increase in the number of malls that the commercial developer has in the sprawling municipality of 29 million peopl…
Dalian Wanda Sells Chicago Project for $270M to Close Out Global Portfolio
The Wanda Vista Tower was nearing completion in this January 2019 photo Dalian Wanda Group last week announced that it had agreed to sell its 90 percent stake in a Chicago property project for $270 million, closing out the last of an overseas property portfolio that once included projects in the US, UK, France, Spain and Australia. Wanda Hotel Development, the Hong Kong-listed unit of billionaire Wang Jianlin’s property group said in an announcem…
Dalian Wanda Group to Build $9.5B Theme Park in Jinan as Joust with Disney Continues
…ect will feature a 10,000-seat arena designed to host sporting events, and Wanda hopes to start construction in 2017 with completion expected in 2021. Wanda’s owner, Wang Jianlin, has made clear his attentions to challenge Walt Disney, which opened its first theme park in Shanghai earlier this year. China’s richest man told Reuters that he intends to build 20 entertainment complexes in China and believes Disney is not going be able to compete with…
Dalian Wanda Investor to Buy Aussie Theatre Chain for $743M
…fficials in Sydney While Sun’s theatre buy bears a striking resemblance to Dalian Wanda’s deal for AMC, it is also part of growing Chinese investment wave in Australia. On the same day that word leaked of the Hoyts sale a unit of state-owned infrastructure building firm China Communications Construction announced that it is buying Australian construction firm John Holland for A$953.1 million ($786 million). Chinese property developers have also be…
Dalian Wanda Sells 20% of Units in $1Bil Chicago Project
Chicago’s Wanda Vista Tower will be complete by 2020 Dalian Wanda Group is off to a strong start on its first luxury hotel-residential joint venture in the third-largest city in the US, with its development partner reporting that 20 percent of its available condominiums were sold since the project’s April sales debut. Vista Tower Chicago, which Wanda is jointly developing with that city’s Magellan Development Group, is under construction and targ…
Dalian Wanda Announces 2 US$1Bil Hotels – Chairman Says Failure is Their Tuition
…ments of plans for billion dollar hotels during the month of June, China’s Dalian Wanda group is making clear that it intends to create its own global hotel brand. The hotel investments include US$1.1 billion to develop a five star hotel in London, and US$1 billion for a five star hotel project in New York. Known in China for its successful development of retail malls and other commercial real estate, including hotels managed by international hote…
Dalian Wanda to Close 10 Dept Stores – Restructure 20 More
…world continued to shift away from one-size-fits all shops this week when Dalian Wanda announced plans to shutter 10 department stores nationwide, and restructure another 20. The decision by the China retail real estate giant mirrors the experience of other department store operators in China, as the traditional retailers struggle to compete with specialty boutiques and ecommerce. News of the closings are also the latest sign that Dalian Wanda, w…
Dalian Wanda Completes Acquisition of $1.1 Billion London Project
…uttons The Nine Elms project was the first major deal announced as part of Dalian Wanda’s plan to launch a new international hotel brand and was followed by the company’s agreement later in June to build a $1 billion hotel in New York. Dalian Wanda is owned by China’s richest man, Wang Jianlin, who is said to have amassed a fortune of more than $14 billion in China’s real estate industry. Wanda Group announced the successful incorporation of its U…
Dalian Wanda Grabs $28.2 Million Picasso Trophy
…une. In addition to this latest acquisition by his company, just last week Dalian Wanda acquired a controlling stake in a US$1.1 billion mixed-use real estate project under development in London. Wanda also grabbed headlines in 2013 with a $1 billion hotel project in New York, paired with an additional $1 billion hotel in London. Beyond their forays into international real estate, Wanda made headlines in July by acquiring the UK luxury yacht maker…
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