Chinese conglomerate Dalian Wanda sells Australian real estate projects

Dalian Wanda has sold its two real estate projects in Australia, the twin towers in Circular Quay and the mixed use hotel project Jewel on the Gold Coast.

It has been said that the sale was just above $1 billion with a sale exchange contract signed with a private buyer in Hong Kong on January 18.

The two projects combined total approximately $2 billion in end value. The asset sale also means that Chinese developer RIdong has sold out its share to the new buyer.

Image and article source: http://www.afr.com/real-estate/chinese-conglomerate-dalian-wanda-sells-australian-real-estate-projects-20180124-h0nvd9?btis


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Level 2, 62 Pitt Street Sydney

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