Pursuits
China Billionaire Invests $1.6 Billion in London Land, Boats
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Dalian Wanda Group, the Chinese developer controlled by billionaire Wang Jianlin, is investing 1 billion pounds ($1.6 billion) in a British yachtmaker and a London site to build Western Europe’s tallest residential tower.
Wanda will spend 700 million pounds on a 62-story luxury hotel and apartment building on the land on the South Banks of the Thames. It also agreed to pay 320 million pounds to buy 92 percent of Sunseeker International Ltd. whose yachts have been featured in James Bond movies, it said in a statement today.