Dalian Wanda buys Blackstone's Sydney office block

The Chinese property group plans to invest $1b in a new luxury development, just as analysts fret about its aggressive overseas expansion.

Dalian Wanda buys Blackstone's Sydney office block

China's Dalian Wanda has agreed to buy offices from Blackstone overlooking Sydney Harbour Bridge and Opera House for about A$415 million $327.5 million, the latest step in its rapid diversification away from its weakening domestic market.

China's biggest commercial developer, backed by Chinese billionaire Wan Jianlin, said it would invest about $1 billion to create a mixed-use development with a five-star hotel, luxury residential and retail properties. 

“We look forward...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...