Joint Announcement: City Regeneration and Cultural & Travel Investment Project to the UK
Following the announcement of the five star hotel and luxury residential apartments project in South London last year, Dalian Wanda Group, one of China’s largest real estate and shopping mall developers today announced its intention to invest £2-3bn in regeneration projects in the UK, the main one being its self-owned intellectual property of multi-used cultural and travel commercial project. Wang Jianlin, Chairman of Dalian Wanda Group and David Cameron, the Prime Minister of the UK announced this major investment project after their meetings at Davos 2014.
This announcement comes shortly after David Cameron’s recent visit to China, of which Chinese investment in to the UK was a key feature. Prime Minister David Cameron said: “When I met Chairman Wang Jianlin during my recent trade visit to China, I encouraged him to make further investment into Britain. So I’m delighted that Wanda has decided to invest £2-3 billion in regeneration projects so soon after my visit. This will help to create jobs in Britain and it’s a great example of how we can benefit from foreign investment.”
Established by Wang Jianlin in 1988, Dalian Wanda is a private company and one of the largest property companies in the world. Wang Jianlin said, “The UK is one of the most important European markets for Wanda’s overseas investment plans. The UK has huge investment opportunities, there are strong and stable returns to be had and the UK Government has made it very clear that it welcomes overseas investment. It is for these reasons we have selected the UK as a key part of our expansion plans”
Dalian Wanda Group
Dalian Wanda Group was founded in 1988 and operates in four major segments: commercial property, luxury hotels, culture & tourism, and department stores. The company has total assets of 380 billion yuan (US$62.8 billion), annual revenue of 186.6 billion yuan (US$30.8 billion), and net profit of 12.5 billion yuan (US$2.1 billion). Wanda Group has a portfolio of 85 Wanda Plazas, 51 five-star and super five-star hotels, 1,247 movie screens, 75 department stores and 81 karaoke centers. For more information, please visit http://www.wanda-group.com/
UK Trade & Investment (UKTI) is the government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy - acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit www.ukti.gov.uk