Wang Jianlin’s Wanda Group is reportedly selling another 48 Wanda Plaza properties. The deal will be backed by a massive RMB50 billion (about USD7 billion) fund led by investment firm Pacific Alliance Group (PAG), according to The Paper.
The fund will include big-name investors such as Tencent, Sunshine Insurance, and companies from the JD Group. These investors are expected to jointly acquire the commercial properties through this newly formed fund.
Regulatory filings from the State Administration for Market Regulation confirm that the transaction has already received unconditional approval. The deal covers Wanda Plaza projects in major Chinese cities, including Beijing, Guangzhou, Chengdu, Hangzhou, Nanjing, and Wuhan.
So far, Wanda has not released any official comment on the report.
This move appears to be part of Wanda’s ongoing efforts to reduce debt by selling off assets. It comes amid broader restructuring within the company’s commercial real estate arm, Wanda Commercial.
