China’s Richest Man Said to Plan Retail Project in France
- Chinese conglomerate having busy year in terms of deals
- Chairman Wang flagged `major deal' to be announced Friday
Dalian Wanda Group Co. Chairman Wang Jianlin speaks during the Hong Kong Asian Financial Forum (AFF) in Hong Kong, on Monday, Jan. 18, 2016. Photographer: Justin Chin/Bloomberg
Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. is planning to invest billions of euros in a retail and leisure development outside of Paris, according to two people familiar with the matter.
An announcement may come as soon as Friday, according to the people, who asked not to be identified because the project is confidential. Wang said at the University of Oxford on Tuesday that Wanda would announce a "major deal" this week, though he didn’t provide details. The project, known as EuropaCity, will be built in Gonesse, a town 16 kilometers northeast of Paris, between Le Bourget and Charles de Gaulle airports, according to a website for the property.