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Wanda launches $1b New York hotel project

By Zhang Yuwei in New York | China Daily | Updated: 2013-06-21 07:32

China's Wanda Group, which owns AMC Theaters, is spending $1 billion to build a five-star hotel in New York City, becoming a new addition to the recent Chinese investment wave in the Big Apple's real-estate market.

Wang Jianlin, chairman of the Dalian-based commercial real estate developer, told Reuters in Beijing that the company is in talks with potential partners to build a Wanda hotel and an adjacent apartment building in New York.

The chairman said the project will probably be announced in the third quarter of this year "if everything goes smoothly".

Wanda launches $1b New York hotel project

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