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SG Chinese firm to build 62-storey London tower

Property Here - Thursday, June 20, 2013

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Chinese real estate firm Dalian Wanda Group has acquired a huge residential site in London, which will soon house a 670-ft residential tower poised to become the tallest in Western Europe.

Located at the South Bank of the Thames, the 1.1million sq ft site was sold to Dalian Wanda for £700 million (S$1.37 billion), making the company one of Britain’s biggest direct investors.

The upcoming 62-storey residential development will feature 678,000 sq ft of apartment space and a 160-room hotel. The Wanda Hotel will be the first luxury Chinese hotel chain to open outside China, with its launch in line with the company’s massive global expansion efforts.

“The London property market has excellent investment opportunities and we have confidence that Wanda’s strength and expertise will make the Wanda London’s premier hotel, further promoting development in the area,” said Wang Jianlin (pictured), the chairman of Dalian Wanda.



Nikki De Guzman
, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg