Property News · July 11, 2017

Wanda deal gives Sunac plenty of room to expand


Sunac China said its US$9.3 billion acquisition of hotels and tourism projects from Dalian Wanda Group will give it 50 million square metres of saleable stock for expanding its property empire.
Sunac, the seventh-largest Chinese homebuilder, founded by Shanxi tycoon Sun Hongbin, saw its share price jump as much as 12 per cent to HK$16.56 in Hong Kong when it resumed trading on Tuesday morning. On Monday the acquisitive developer agreed to buy 76 hotels and 91 per cent equity in 13 theme parks…

Source : South China Morning Post
Read more…Wanda deal gives Sunac plenty of room to expand

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