Leading today’s roundup, WeWork’s joint venture in India is poised to lease 2.1 million square feet of space for up to 22 new centres in three cities, as the US-based flexible office giant seeks an edge over local rival CoWrks…. Read More>>
Wanda Waves Bye Bye to Sofitel, Hyatt and Hilton in Quest to Build Own Hotel Brand
Dalian Wanda Group is saying goodbye to its partnerships with foreign hotel operators as the Chinese conglomerate continues its quest to build the first globally recognised Chinese premium hotel brand.
While the company has been forced to abandon its attempts… Read More>>
Alibaba Offline Deals Roll on With $744M Investment in Wanda Film
Alibaba Group has closed on its acquisition of a RMB 4.68 billion ($744 million) stake in Wanda Film to become the film company’s second largest shareholder, following through on an agreement signed in early February. The move came just days… Read More>>
The $1B NYC Tower That Woulda, Coulda Been Wanda’s
Dalian Wanda’s story in the last year has been a cascade of woe as the one-time world-beating investor has sold off projects in the UK, Australia and China due to a mix of regulatory and financial pressures.
However, a recently… Read More>>
Wanda Drops Property From Company Name as Wang Moves Away From Development
Dalian Wanda Commercial Properties Co has officially changed its name to Wanda Commercial Management Group to “implement the company’s development strategy,” the firm said in a recent filing to the Shanghai Stock Exchange in accordance with bond regulations.
Wanda revealed that… Read More>>
Alibaba and State-Backed Partner Take $1.2B Stake in Wanda Theatre Business
Dalian Wanda Group is selling a nearly 13 percent stake in its 500 domestic movie theatres to Alibaba Group and a state-backed firm for RMB 7.8 billion ($1.24 billion), as Wang Jianlin offloads another piece of his property-to-entertainment conglomerate.
Under… Read More>>
Tencent, JD.Com, Suning and Sunac Bet $5.4B on Transforming Wanda into O2O Giant
Wanda boss Wang Jianlin has been selling properties in the UK, Australia and mainland China to help lessen his debt load, and now the owner of China’s biggest commercial developer is selling off nearly 14 percent of his flagship commercial… Read More>>
Wanda To Bail on $1.5B in Australia Projects Amid Global Retreat
Dalian Wanda Group is walking away from its flagship property projects in Australia, in a deal that could exceed $1.5 billion, as the Chinese mall builder downsizes its overseas portfolio.
In an announcement last night, the group’s Hong Kong-listed unit… Read More>>
Wanda Reports 11% Revenue Drop in 2017 as Wang Jianlin Scales Back His Empire
Dalian Wanda Group saw its revenue tumble by nearly 11 percent last year as the Chinese conglomerate retreated from its global investment and diversification drive to focus on its core property business.
The group’s operating revenues for 2017 dropped 10.8%… Read More>>
Wanda Hotel Unit Changes Hands for $470M Amid Restructuring Drive
Chinese billionaire Wang Jianlin is continuing to restructure his commercial property empire, by personally purchasing a controlling stake in Dalian Wanda Group’s Hong Kong-listed hotel unit for HK$3.67 billion ($470 million).
Through the proposed transaction, a vehicle wholly owned by… Read More>>
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