\nChina\u2019s biggest developer is diversifying beyond real estate and into\u2026movies
\nOdeon cinema on London\u2019s Shaftsbury Avenue. Image credit: Ewan Munro (Flickr)
\nReal estate, a core business of China\u2019s Dalian Wanda Group, may have to share centre stage with filmmaking and distribution.
\nAs the Financial Times writes, China\u2019s wealthiest man Wang Jianlin is taking advantage of the devalued sterling, with his firm Dalian Wanda acquiring British theatre chain Odeon & UCI Cinemas Group through private equity firm Terra Firma Capital Partners for USD1.2 billion.
\nThe deal comes just months after Dalian Wanda took over Legendary Entertainment, the American movie studio behind \u201cJurassic World\u201d and \u201cThe Dark Knight,\u201d for USD3.5 billion.
\nNow with a portfolio that includes US theatre chain AMC Entertainment Holdings and Australian theatre chain Hoyt Group, acquired in 2012 and 2014, respectively, Dalian Wanda is currently the biggest theatre owner in China. With the Odeon acquisition, the company could be managing 7,600 screens across four continents.<\/p>\n
More: Wanda Group sets sight on \u2018world\u2019s largest developer\u2019 title
China\u2019s biggest developer is diversifying beyond real estate and into\u2026movies Odeon cinema on London\u2019s Shaftsbury...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20180","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5fu","jetpack-related-posts":[{"id":64222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-dalian-wanda-drops-plans-to-buy-nine-elms-square-in-london\/","url_meta":{"origin":20180,"position":0},"title":"China's Dalian Wanda drops plans to buy Nine Elms Square in London","date":"August 22, 2017","format":false,"excerpt":"\r Dalian Wanda Group said on Tuesday it had scrapped plans to buy Nine Elms Square in London, the latest setback for the Chinese conglomerate as Beijing tightens controls on overseas investment.\r \r Source : cnbc.com\r Read more...China's Dalian Wanda drops plans to buy Nine Elms Square in London","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76998,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-guangzhou-rampf-emerges-as-buyer-of-dalian-wandas-london-hotel-and-residential-project\/","url_meta":{"origin":20180,"position":1},"title":"China\u2019s Guangzhou R&F emerges as buyer of Dalian Wanda\u2019s London hotel and residential project","date":"January 17, 2018","format":false,"excerpt":"\r Chinese developer Guangzhou R&F Properties was the buyer of conglomerate Dalian Wanda Group\u2019s hotel and residential project under construction in London, according to people familiar with the matter. Wanda Hotel Development said in a stock exchange filing in Hong Kong late on Tuesday that it would sell a 60\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140511,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalian-wanda-wins-consent-from-bondholders-to-restructure-us600-million-bond-weaken-debt-covenants\/","url_meta":{"origin":20180,"position":2},"title":"Dalian Wanda wins consent from bondholders to restructure US$600 million bond, weaken debt covenants","date":"November 30, 2023","format":false,"excerpt":"\r Dalian Wanda, one of China\u2019s biggest commercial landlords, easily sailed through its attempt to delay paying a US$600 million bond next year, as well as dilute some of the debt covenants.\r \r Source : South China Morning Post\r Read more...Dalian Wanda wins consent from bondholders to restructure US0 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134417,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-property-firm-dalian-wanda-to-tap-offshore-bond-markets-for-second-time-this-year-with-us300-million-offering\/","url_meta":{"origin":20180,"position":3},"title":"Chinese property firm Dalian Wanda to tap offshore bond markets for second time this year with US$300 million offering","date":"February 6, 2023","format":false,"excerpt":"\r Dalian Wanda Commercial Management is poised to issue US$300 million of high-yield bonds, its second offering in the offshore debt market this year, according to people familiar with the matter.\r \r Source : South China Morning Post\r Read more...Chinese property firm Dalian Wanda to tap offshore bond markets for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalian-wanda-unveils-ambitious-zhaoqing-tourism-project-in-latest-bet-on-greater-bay-area-economy\/","url_meta":{"origin":20180,"position":4},"title":"Dalian Wanda unveils ambitious Zhaoqing tourism project in latest bet on Greater Bay Area economy","date":"September 30, 2020","format":false,"excerpt":"\r Dalian Wanda Group, controlled by Chinese billionaire Wang Jianlin, is embarking on an ambitious plan in the Greater Bay Area by tapping into the tourism potentials of Zhaoqing city in southern Guangdong province.The property-to-entertainment conglomerate has teamed up with the Zhaoqing municipal government to develop a state-level tourist resort\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35206,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalian-wandas-backdoor-listing-deal-with-beijing-soft-rock-called-off\/","url_meta":{"origin":20180,"position":5},"title":"Dalian Wanda\u2019s backdoor listing deal with Beijing Soft Rock called off","date":"November 21, 2016","format":false,"excerpt":"\r Tycoon Wang Jianlin\u2019s ambitions to relocate his real estate empire from Hong Kong to mainland China isn\u2019t going as smooth as expected as a mainland-listed company on Monday announced the termination of a deal with his Dalian Wanda Group. 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\nDiversifying into the entertainment business has cushioned Dalian Wanda\u2019s recent setbacks in the real estate sector.
\nSales at Dalian Wanda Commercial Properties plunged 17.3 percent in the first half of 2016 from the same period last year, Mingtiandi reported. Rental revenues only made a relatively small CNY8.48 billion (USD1.3 billion).
\nFor perspective, revenues for Wanda Cinema Line Corp over the same period reached CNY29 billion (USD4.39 billion), while revenues for Wanda Film Holdings topped CNY19 billion (USD2.89 billion). All in all, entertainment revenues for the company rose 57.1 percent in the first half of 2016.
\nDalian Wanda founder Wang Jianlin has vowed to wean his company off real estate margins and reinvent it into a media company with annual revenues of CNY80 billion (USD11.9 billion) by 2020.
\nAlthough films would play a role in the company\u2019s reinvention, theme parks would be a key player as well. Wanda Tourism, which operates theme parks across second-tier Chinese markets, saw revenues top CNY6.03 billion (USD913 million) in the first half of 2016.
\nRead next: Asian developers are investing billions in India
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\nSource : property-report.com
\nRead more…All the world\u2019s a stage: Wanda Group extends theatre empire for .2bn<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"