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Home » Business » Real Estate
Wanda eyes Shanghai for HQ
Print Edition
DALIAN Wanda Group, controlled by billionnaire Wang Jianlin, one of the richest men in Asia, plans to move its headquarters from Beijing to Shanghai, The Paper said, citing a number of anonymous sources close to the group.
The country’s largest private property developer and the world’s biggest cinema chain operator is scouting for an appropriate land parcel to build its future headquarters building, with Pudong New Area said to be the favored site, according to the local news portal.
In March, Wanda set up its e-commerce subsidiary with a registered capital of 400 million yuan (US$64.5 million) in Pudong.
Wanda, founded by Wang in 1988 in Dalian in Liaoning Province as a residential real estate developer, moved its headquarters to Beijing about seven years ago.
It has grown into a conglomerate with interests in commercial real estate, luxury hotels, culture, tourism and retail.
In 2014, the total assets of Wanda were worth US$86.15 billion, and revenue amounted to US$39.47 billion.
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