Arab Today, arab today chinas wanda to build 900m complex in chicago
Last Updated : GMT 04:43:32
Arab Today, arab today
Arab Today, arab today

China's Wanda to build $900m complex in Chicago

Arab Today, arab today

Arab Today, arab today China's Wanda to build $900m complex in Chicago

Wang Jianlin, head of conglomerate
Beijing - AFP

China's Wanda Group, controlled by the country's richest man Wang Jianlin, says it will invest $900 million in a five-star hotel and apartment complex in Chicago, as it acquires more assets in the US.
The project, to be located near the intersection of the Chicago River and Lake Michigan, will be the city's third tallest building with a height of 350 metres (1,148 feet), the company said in a statement.
It will be a mixed-use development consisting of a 240-room "super five-star" hotel, residential units and commercial space, and heralds greater expansion into the US, according to the statement posted Tuesday.
"The Chicago project is just the first step of Wanda's property investment in the United States," Wang said in the statement, adding the company would invest in five-star hotels in major US cities including New York, Los Angeles and San Francisco "within a year".
Wanda has made a series of big-ticket purchases of Western assets in recent years as it seeks to spread itself internationally.
Last month Spain's biggest bank Santander announced that it had sold a historic skyscraper in Madrid to a Wanda subsidiary for 265 million euros ($360 million).
The deal followed the Chinese conglomerate's acquisition last year of British yacht maker Sunseeker for 320 million pounds (now $548 million) and its $2.6 billion takeover in 2012 of US cinema chain AMC Entertainment.
It is also spending 700 million pounds on London's tallest residential towers.
Construction on the Chicago property project is expected to start this year and it is scheduled to open in 2018, Wanda said.
A Wanda arm listed in Hong Kong said in a stock exchange statement Tuesday that it and another Wanda subsidiary will have combined "capital commitments" of no more than HK$1.75 billion ($226 million) in the Chicago project.
Executives at Wanda were not immediately available to explain the discrepancy between the figures when contacted by AFP on Wednesday.
Wang, formerly a senior member of the ruling Communist Party, was ranked the richest man in China and 26th wealthiest in the world, business magazine Forbes reported in February, with his personal worth estimated at $14 billion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas wanda to build 900m complex in chicago Arab Today, arab today chinas wanda to build 900m complex in chicago

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas wanda to build 900m complex in chicago Arab Today, arab today chinas wanda to build 900m complex in chicago

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday