Dalian Wanda, the Chinese property group, has announced plans for a clutch of new acquisitions and the formation of a financial holding company.
Dalian Wanda, a China property developer with a market capitalisation of $US33 billion, said it planned to raise up to $US1.9 billion in the Chinese market.
Dalian Wanda will invest in Sydney property. This will be the Chinese property company’s second investment in Australia.
Dalian Wanda Commercial Properties has received $2 billion worth of support from 11 cornerstone investors ahead of its Hong Kong initial public offering.
Dalian Wanda Group said earlier this week that it is in negotiations to merge with or buy a U.S. hotel chain.
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