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Snapping up London
The Dalian Wanda Group is set to invest more than £1 billion in the UK.
The Chinese property development giant – and owner of the American movie theatre chain AMC – is building a 62-storey luxury hotel and an apartment building on the South Bank of the Thames.
It is also acquiring 92% of Sunseeker International, Britain’s largest yacht maker whose yachts have featured in James Bond movies.
Hongkong and Shanghai Hotels is looking to acquire a 50% stake in a site opposite the gardens of Buckingham Palace, spending £132 million to jointly develop the site with Grosvenor property group into a luxury hotel under its Peninsula brand.
Read more on The Standard.
[Image source: Wang Jianlin by World Economic Forum on Flickr.com]
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